Delhi Police Busts ₹16 Crore Money Laundering Racket through Mules and Shell Companies

Delhi Police Busts $2.2 Million Money Laundering Ring

In a significant operation, Delhi Police has dismantled a sophisticated money laundering network that utilized mule bank accounts and shell companies to facilitate cyber-enabled financial crimes.

• The investigation led to the arrest of two individuals, Sonu Kumar and Aminder Singh, who were allegedly operating as dummy directors of a private limited firm at the center of the scheme.
• The police discovered that a bank account linked to the company at a Bawana branch was connected to 336 cyber fraud complaints across various states, indicating it was used in a larger financial crime syndicate.
• A thorough financial analysis revealed that over $2.2 million (approximately Rs 16 crore) was laundered through this account within an eight-day period.
• The transactions showed a complex pattern of money movement, with funds being transferred across multiple accounts and banks to obscure the financial trail.
• The probe further revealed links to over 35 suspected shell companies, suggesting a broader multi-layered network involved in handling funds.
• According to the police, vulnerable individuals were lured into becoming dummy directors, while the actual control of the bank accounts remained with remote handlers.
• These handlers operated from outside Delhi, receiving cheated money, layering transactions, and transferring funds to conceal the financial trail.
• Further investigation is ongoing to identify and apprehend other members of the network.
• The case highlights the need for enhanced security measures to prevent such financial crimes and protect vulnerable individuals from falling prey to these schemes.

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