Delhi Police Cracks Down on Pan-India Cyber Investment Scam

The Delhi Police have dismantled a nationwide cyber investment fraud syndicate by arresting seven individuals. Victims were deceived into fake investment schemes via social media and fraudulent apps. The scam involved a network managing mule accounts and promised high returns, resulting in a Rs 27.20 lakh loss for one victim.

The Delhi Police have successfully dismantled a complex pan-India cyber investment fraud syndicate, raising the count of apprehended individuals to seven. This action follows the arrests of three suspects, identified as Arif Sayyed, Md Rahan Anumi, and Summer Saini, hailing from Mumbai and Faridabad.

The case revolves around a fraudulent online investment operation that lured victims through deceptive trading groups on social media and fake mobile apps, promising substantial returns on investment via bogus IPOs and trading plans, according to Deputy Commissioner of Police (Crime Branch) Aditya Gautam.

The operation revealed a sophisticated network of social media operators, SIM card facilitators, and individuals managing banking credentials. The accused had previously coordinated in Pune, establishing mule accounts and transferring the defrauded funds rapidly.

(With inputs from agencies.)