Delhi Police arrests four over involvement in Rs 5.92-crore investment fraud

New Delhi, Nov 23 (PTI) The Delhi Police has arrested four alleged members of an interstate cybercrime syndicate involved in a Rs 5.92-crore investment scam, an official said on Sunday.

Police said the accused provided their personal details and arranged mule bank accounts for the syndicate, conducted cash withdrawals on commission, and transferred funds to higher-level handlers operating from outside India, including Dubai.

According to police, the arrests were made following a probe into an FIR registered on April 17 at the Special Cell police station.

The investigation was later taken over by the Cyber Cell of the Crime Branch.

The complainant alleged that he had lost over Rs 5.92 crore after being targeted on social media by a woman posing as an employee of a prominent finance firm based in Mumbai, the officer said.

He said, over nearly two months, the victim was persuaded to deposit increasing amounts in high-return trading accounts, only to later discover that the operations were fraudulent.

During the probe, the team identified a complex money-laundering mechanism structured across multiple layers.

"The cheated amount was initially routed into 33 different bank accounts, many of which belonged to the accused or had been procured for illegal use," the officer said.

The four accused have been identified as Anas Ansari (22), Mohd Kaif (22), Akib (40) and Mohd Danish (22) -- all residents of Haldwani in Uttarakhand.

Danish, described as a key facilitator, allegedly arranged multiple mule accounts and coordinated withdrawals and handovers of cash to higher operators in the network.

Akib allegedly provided his bank account and shared OTPs and access credentials with handlers, while Anas and Kaif withdrew large sums and delivered cash to coordinators for a commission.

At least 10 cybercrime complaints nationwide have been linked to the group and proceeds to the tune of Rs 1.1 crore linked to existing National Cybercrime Reporting Portal (NCRP) complaints have been traced to the accused, the officer said.

Further investigation is underway to identify remaining handlers and the foreign-based operators. PTI BM ARB ARB