Delhi Police busts online investment scam; three held

New Delhi, Aug 27 (PTI) Delhi police nabbed three men for allegedly duping a senior citizen of Rs 31 lakh through a fake stock market investment scheme, officials said on Wednesday.

The accused, identified as Mohseen (37), Nayar Ali (39) and Kaif (22), were apprehended on Tuesday.

According to the police, the 62-year-old victim, who works with a construction company, was targeted through social media, where the accused introduced him to a fraudulent investment platform. He was then added to a group that offered fake stock tips and investment advice.

"The accused lured the victim with promises of high returns through IPO funding and profit withdrawals. Believing the claims, he transferred money through online methods into multiple personal bank accounts," a senior police officer said.

When the victim attempted to withdraw his money, the fraudsters allegedly threatened him and coerced him into transferring additional amounts. The total loss reported was around Rs 31 lakh.

During the investigation, police found that Rs 5.44 lakh had been deposited into an account linked to Mohseen, who initially went underground after the fraud was reported.

He was later tracked and arrested in Ghaziabad. His interrogation led to the identification of his associates, Kaif and Nayar Ali, who were then arrested from Delhi’s Rajouri Garden and Govindpuri, respectively.

"The trio used mule accounts to circulate funds and earned commissions ranging between 1 per cent to 1.5 per cent per day on transactions routed through them," the officer added.

Further probe to trace other bank accounts and people linked to the racket has been initiated.

Efforts to recover the money are underway, the police said. PTI BM ANM BM ANM RT RT