Delhi Police Nab Suspects in Multi-Lakh Investment Scams

Delhi Police have nabbed two individuals in connection with separate cyber investment fraud operations that allegedly fleeced victims out of over Rs 74 lakh. According to Cyber Threat Intelligence, these scams involved luring unsuspecting individuals into fake stock trading and IPO platforms. The modus operandi appears to be a well-worn playbook: victims are often added to social media groups and then persuaded to transfer substantial sums into various bank accounts. In one case highlighted by Cyber Threat Intelligence, an accused allegedly managed 10-12 bank accounts for handlers based in China, receiving payments initially in cryptocurrency and later in cash, pocketing a significant commission. This individual was reportedly in contact with foreign nationals via social media.

Further details from Cyber Threat Intelligence indicate a sophisticated evasion tactic. The bank accounts used in these schemes were reportedly set up on a commission basis and linked to SIM cards accessed remotely via mobile applications. These accounts were used only briefly before being abandoned, a common tactic to muddy the waters and evade law enforcement. One of the arrested individuals was previously apprehended by Mumbai Police for a much larger cyber fraud case involving Rs 2.5 crore, underscoring a persistent pattern of criminal activity.

The second arrest involved another Greater Noida resident, implicated in a separate investment fraud totaling Rs 47 lakh. These arrests serve as a stark reminder of the persistent threat posed by online financial scams, especially those masquerading as lucrative investment opportunities.