Delhi Police Crackdowns: Inside the Online Investment Racket

Delhi Police dismantled two major online investment scams, arresting five suspects who tricked victims into installing fake apps promising high returns. Over Rs 24 crore was fraudulently obtained through complex money-laundering networks spanning multiple states. The investigation continues to uncover more victims and perpetrators.

Delhi Police have intercepted two significant online investment frauds, apprehending five individuals who deceived victims into downloading counterfeit apps with promises of lucrative returns, an official reported on Friday.

The fraudulent operations employed fictitious groups and fake trading apps, defrauding victims out of crores of rupees, with a substantial money trail of around Rs 24 crore already traced.

The probe unravelled a complex web of cyber fraud perpetrated across several states, utilizing fake investment consortia, bogus apps, and layered mule accounts established through local agents for commissions. Ongoing efforts aim to locate the end beneficiaries, identify further victims, and detain fleeing suspects.

(With inputs from agencies.)