Cracking the Cyber Fraud Network: Delhi Police Uncover Rs 7.16 Crore Scam

Delhi Police nabbed four individuals linked to a nationwide cyber fraud ring, uncovering transactions worth Rs 7.16 crore. The suspects defrauded a victim of Rs 27.2 lakh using fraudulent investment schemes. This operation is part of a broader effort to dismantle high-stakes cybercrime syndicates.

In a significant breakthrough, Delhi Police have arrested four alleged cyber fraudsters involved in a pan-India online investment scam, uncovering transactions amounting to Rs 7.16 crore. According to official reports, these arrests stem from a November 3rd fraud case where a Delhi resident was duped of Rs 27.2 lakh by the suspects.

Investigations reveal that the accused are part of an extensive cybercrime syndicate using high-volume mule bank accounts to launder scam proceeds, linked to over 300 cybercrime complaints nationwide. The police discovered the transactions during a probe into a fraudulent investment scheme targeting a fake IPO.

The arrested individuals, hailing from Pune and Hyderabad, operated mule accounts and stayed together in a Pune hotel while coordinating fraudulent activities. Authorities continue their investigation to dismantle the broader syndicate and trace additional illicit proceeds.

(With inputs from agencies.)