Aligarh: Police have busted a major interstate cyber fraud gang involved in duping people across the country in the name of investment and share trading, arresting 12 accused following a probe into a ₹1.10 crore fraud involving a retired senior bank official. The arrests came after coordinated raids conducted across six states, uncovering an organised network that allegedly targeted thousands of victims through online platforms.
According to investigators, the gang operated across Uttar Pradesh, Odisha, Chhattisgarh, Uttarakhand, Haryana and Rajasthan. The accused allegedly used social media and messaging applications to lure victims with promises of exceptionally high returns—sometimes claiming profits of up to 200%—from stock market trading and investment schemes. Victims were gradually drawn into fake online groups where manipulated data, fabricated profit screenshots and false trading dashboards were used to build credibility.
How the scam came to light
Police said the case surfaced after a complaint was lodged on January 31 by Dinesh Kumar Sharma, a resident of Swarn Jayanti Nagar’s Kaveri Vatika area in Aligarh. Sharma is a retired Deputy General Manager (DGM) of Punjab National Bank. In his complaint to the cyber crime police station, he alleged that fraudsters had cheated him of over ₹1.10 crore over a period of several weeks.
According to the complaint, Sharma received a WhatsApp call on November 7, 2025, from an unknown number. The caller introduced himself as a stock trading expert and claimed to offer guaranteed high returns through share buying and selling. Soon after, Sharma was added to a WhatsApp group where members regularly posted screenshots showing massive profits and claimed successful investments running into crores.
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Misled by these claims and repeated assurances, Sharma began transferring money into multiple bank accounts shared by the fraudsters. Between December 18, 2025, and January 28, 2026, he transferred ₹1 crore 10 lakh 70 thousand in several transactions. When promised returns failed to materialise and communication became evasive, Sharma realised he had been cheated and approached the police.
Multi-state raids and arrests
Taking cognisance of the complaint, police registered an FIR and immediately managed to place ₹64,000 of the victim’s money on hold. Five special teams were constituted to track digital transactions, analyse bank accounts and trace mobile locations linked to the scam.
The investigation led police teams to multiple locations across Odisha’s Ganjam district, Chhattisgarh’s Durg, Dehradun in Uttarakhand, Faridabad in Haryana, Dholpur in Rajasthan, and several districts in Uttar Pradesh including Bulandshahr, Mathura and Ghaziabad. Simultaneous raids resulted in the arrest of 12 accused.
Those arrested have been identified as Jagannath Pradhan, Debashish Pradhan, Jitendra Chaudhary, Rankanidhi Nayak, Durgesh Kumar Gupta, Suraj Singh Pawar, Ravindra Singh Rathore, Suresh Kumar, Navneet Lahri, Rizwan, Adityapal and Aryan Vats.
Seized items and modus operandi
During searches, police recovered multiple mobile phones, laptops, passbooks, ATM cards and credit cards from the accused. Preliminary questioning revealed that the gang members played different roles—some handled initial contact and persuasion, others managed fake investment groups, while a separate set of operatives controlled bank accounts used to siphon off funds.
Investigators believe the gang has cheated thousands of people across different states using similar methods. Several additional complaints linked to the same network are now being verified, and authorities are mapping the full financial trail to identify further beneficiaries and shell accounts.
Investigation continues
Police officials said custodial interrogation of the accused is underway, and efforts are being made to recover the remaining defrauded amount. Investigators are also probing whether the gang has links to larger national or international cyber fraud syndicates.
Police have issued a fresh advisory urging citizens to remain cautious of investment offers received via social media or messaging apps. Officials stressed that guaranteed or unusually high returns are a common red flag and advised people to verify platforms thoroughly before investing.
Anyone encountering suspicious investment schemes or online fraud has been advised to report the matter immediately to the nearest cyber crime police station or contact the 1930 cybercrime helpline.
