Greater Noida: A sessions court in Gautam Budh Nagar has rejected the bail application of an accused arrested in a high-value cyber fraud case in which a city-based architect was allegedly cheated of nearly ₹12 crore under the guise of online trading. The court refused relief after taking note of the seriousness of the offence, the accused’s active role and the evidence available in the case diary, describing the fraud as among the biggest cybercrime cases reported in the district.
According to the prosecution, the complainant was lured into what was projected as a lucrative trading opportunity and was persuaded to transfer money over a short period. Investigators told the court that ₹11.99 crore was siphoned off into multiple bank accounts within roughly 17 days, using a network of accounts allegedly controlled or facilitated by the accused.
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Court records indicate that when the victim attempted to withdraw the purported “returns”, a small amount was initially credited back, a move investigators say was designed to build trust. The alleged fraud escalated when the complainant was later pressured to invest an additional ₹17 crore in the company’s initial public offering (IPO). It was at this stage, police said, that the victim realised something was amiss and lodged a complaint on the national cybercrime reporting platform.
Following the complaint, an FIR was registered at the Cyber Crime Police Station in Sector 36, Noida. Acting swiftly, the cybercrime unit traced the transaction trail, froze the accounts involved and arrested the accused. During the bail hearing, prosecutors argued that the digital footprint clearly established the accused’s involvement and that custodial interrogation had yielded crucial leads about the money flow.
Court flags gravity and wider ramifications
Rejecting the bail plea, the court observed that cyber frauds of this scale not only cause severe financial loss to individuals but also erode public confidence in digital financial systems. It noted that releasing the accused at this stage could hamper the investigation, particularly when the money trail spans multiple accounts and jurisdictions.
Investigators further informed the court that the bank account linked to the accused has surfaced in 23 other cybercrime complaints registered on the national portal, suggesting a pattern rather than an isolated incident. Police said this raised the possibility of an organised racket using mule accounts to launder proceeds of cyber fraud.
Modus operandi under scanner
Officials familiar with the probe said the case follows a familiar but increasingly sophisticated pattern seen in online investment scams. Victims are drawn in through promises of high returns, are shown fabricated dashboards or trading statements, and are sometimes paid small sums initially to reinforce credibility. Once confidence is established, larger investments are solicited, after which access is blocked or new demands are made under different pretexts.
Cybercrime officers said the investigation is now focused on identifying other beneficiaries of the funds, tracing end-use of the money and determining whether the accused acted alone or as part of a wider network. Requests for transaction data from banks and service providers are underway, and additional arrests have not been ruled out.
Authorities urge caution
The case has prompted renewed warnings from law enforcement agencies urging citizens to exercise extreme caution while dealing with online trading platforms and unsolicited investment offers. Officials reiterated that genuine investment avenues do not demand hurried transfers to multiple accounts or promise guaranteed returns.
Victims of suspected cyber fraud have been advised to immediately report incidents on the national portal or approach local cybercrime police stations without delay, as early reporting improves the chances of freezing funds.
What lies ahead
With bail denied, the accused will remain in judicial custody as investigators continue to build the case. The prosecution is expected to file supplementary material as the money trail is further unravelled. Legal experts say the court’s order underscores a tougher judicial stance on large-scale cyber frauds, particularly where digital evidence points to repeat involvement.
As cyber-enabled financial crimes rise in both scale and sophistication, the Noida case serves as a stark reminder of the risks lurking behind seemingly attractive online investment schemes—and the legal consequences awaiting those found to be part of such operations.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
