Kanpur Cyber Fraud Network Investigation: Two Arrested in ₹5,600 Crore Scam

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Kanpur cybercrime authorities have detained two individuals, Shahvez Waris and Salman, in connection with a suspected ₹5,600 crore financial fraud scheme that encompassed online gaming, sports betting, investment scams, and digital extortion tactics.

Suspects and Allegations

The arrested suspects, identified as Shahvez Waris from Bekanganj and Salman from Chamanganj, are alleged to have operated within a network targeting victims through deceptive online platforms. The scheme reportedly involved fraudulent investment opportunities promising rapid returns, as well as manipulated gaming and betting sites designed to lure participants.

Investigation Findings

The investigation has uncovered 76 suspected shell companies, 86 cybercrime complaints, and extensive financial transactions linked to the accused. Investigators are examining digital arrest scams, where victims allegedly faced coercion to transfer funds under false pretenses.

A review of cybercrime reports revealed 86 complaints filed against the accused, with 11 bank accounts tied to Shahvez Waris linked to alleged fraud totaling ₹170 crore. Another 32 complaints were associated with two accounts linked to Salman, involving ₹16 crore in suspected illicit transactions.

Financial Transactions and Shell Companies

These claims are being cross-verified with banking records to trace the movement of funds. The probe has also identified 76 shell companies suspected of facilitating money laundering. Investigators are analyzing corporate registration documents, bank statements, mobile number records, and transaction histories to determine how funds were routed through multiple accounts.

Some accounts are believed to have been opened using forged identification documents, a practice under scrutiny. Cybercrime experts have highlighted the complexity of the operation, noting the use of multiple financial layers to obscure the origin of illicit proceeds.

A former IPS officer specializing in cybercrime emphasized that such large-scale operations often indicate organized networks rather than isolated incidents.

Previous Fraud Cases and Ongoing Investigation

The investigation is focusing on tracing the entire financial chain, including shell entities, account holders, and final beneficiaries, to dismantle the structure. Shahvez Waris was detained in Hyderabad and transferred to Kanpur following a court appearance, while Salman was arrested based on evidence gathered during the inquiry.

Authorities are now assessing the extent of the network, including potential links to prior fraud cases. In December 2025, a separate ₹1,500 crore fraud case led to an arrest, and in May 2026, another ₹3,200 crore scheme was uncovered. Investigators are comparing financial records from these cases with those of Shahvez and Salman.

Additional Suspects and Cross-Verification

Additional suspects, including Chand Siddiqui and Mohammad Aman Khan, are under investigation. Both were recently jailed in a separate fraud case involving ₹33.82 crore and ₹559 crore in suspicious transactions. Authorities are evaluating whether these accounts intersected with the current network.

The cybercrime team is conducting a comprehensive analysis of bank records, digital footprints, and complaint databases to identify further participants. The investigation aims to map the full scope of the alleged network, including operators of shell companies and individuals involved in transferring funds through multiple accounts.