New Delhi — The Cyber Cell of Delhi Police has dismantled a sophisticated cybercrime module allegedly involved in defrauding individuals through fake overseas investment platforms and shell bank accounts. According to officials, the group siphoned off nearly ₹2.7 crore by luring victims into investing through fabricated trading websites designed to mimic genuine UK-based financial platforms.
Police have arrested three individuals — Sunil Kumar, Vishal Chaure, and his wife — who are believed to have operated the banking infrastructure for the syndicate.
Fraud Executed Through Manipulated Profit Dashboards
Investigators said the mode of operation was highly structured and technology-driven. Victims were initially contacted via social media, where fraudsters gradually built trust before persuading them to invest in platforms such as Spreadex Global Ltd, a fake trading website controlled by the syndicate.
Once registered, users were shown artificially generated profit dashboards indicating rapid portfolio growth. Encouraged by the apparent returns, several victims continued investing — only to find the platform inactive or inaccessible soon after.
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Shell Accounts Used to Channel and Launder Funds
Speaking on the case, DCP (Crime) stated: “The accused opened multiple bank accounts in the name of shell companies and handed over complete operational access to cybercriminals. Funds collected from victims were routed through these accounts before being converted into cash or cryptocurrency.”
Two such entities identified during the probe are:
- GTR Electronics Pvt Ltd
- Udyam Women Empowerment Foundation
Both accounts allegedly functioned as primary repositories for the fraudulent investments.
Complaint of ₹1.6 Crore Triggered Investigation
The case surfaced when a Delhi resident reported losing ₹1.6 crore after being convinced by a woman on social media to invest in Spreadex Global. Subsequent financial audits revealed that:
- ₹15 lakh was transferred to the bank account of GTR Electronics
- ₹11 lakh moved to the NGO-linked account
Further tracing exposed multiple interconnected accounts used to disperse and conceal the proceeds.
Forgery in Address, Documentation, and Verification
Police stated that the accused rented a workspace in Shakarpur, East Delhi, using forged credentials. The premises were used solely for documentation, bank verification, and fund-routing activities. Vishal Chaure and his wife allegedly controlled and operated NGO-related accounts before transferring access to overseas handlers.
Multiple Linked Complaints Across States
Data sourced from the National Cyber Reporting Portal indicates a wider footprint:
- ₹88.40 lakh linked to 13 complaints associated with GTR Electronics
- ₹22 lakh linked to 45 complaints associated with the NGO account
Police believe the number of victims may be significantly higher, spanning multiple states.
Further Arrests Likely
Investigators are now analysing digital forensic evidence, bank trail data, and probable cryptocurrency conversions. Authorities suspect that the arrested individuals were part of a larger network connected to handlers operating from abroad.
Police Advisory
The Cyber Cell has urged citizens to remain vigilant and verify:
- Any foreign trading or investment app
- High-return financial offers
- Claims made by unverified investment advisors
Officials stressed that investments should be made only after confirming registration details with regulatory bodies such as SEBI.
