In a major crackdown on cross-border cybercrime, police in Rajasthan’s Kota have arrested six men for allegedly orchestrating a ₹3.88 crore investment fraud that investigators say had operational links to handlers based in Cambodia.
The arrests followed a complaint filed in December 2025 by businessman Anil Kala, who alleged he had been duped of ₹3.88 crore on the pretext of lucrative investment opportunities. What began as a case of suspected online cheating soon unfolded into a complex, multi-layered network involving bank accounts across states, cryptocurrency conversions, and overseas fund transfers.
Police said the accused siphoned off money from the victim through multiple bank accounts, after which the funds were rapidly rotated to avoid detection. Investigators tracking the money trail discovered that a portion of the proceeds was converted into cryptocurrency before being transmitted to foreign operators.
The six arrested have been identified as Danish Khan of Sajidehra in Kota, Vikrant Naruka of Borkheda, Chandra Shyam Meena of Laxman Vihar in Kunhadi, Devendra Singh Bhati of Ajmer, Ashfaq Hussain of Sojat in Pali district, and Shaukeen Kathat of Masuda in Beawar.
According to the police investigation, Devendra Singh Bhati allegedly acted as a key coordinator with cyber fraudsters based in Cambodia. Authorities believe he was in direct contact with foreign handlers who guided the routing and layering of funds.
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Ashfaq Hussain is suspected to have played a crucial logistical role by procuring bank accounts from various individuals. These accounts were allegedly used as conduits for transferring funds received from foreign operators through encrypted messaging platforms, including Telegram groups.
Once the money was credited, investigators said Hussain would deduct his commission and convert the remaining amount into cryptocurrency, which was then transferred abroad. This layering mechanism made the funds harder to trace and recover.
During the raids, police recovered ₹4.29 lakh in cash and seized seven mobile phones believed to contain critical digital evidence. Forensic analysis of the devices is underway to identify additional beneficiaries, account holders, and possible links to other victims.
Officials said the probe revealed a highly organised structure in which each accused had a specific role — from sourcing mule bank accounts and handling digital wallets to communicating with overseas operators and managing withdrawals.
Authorities traced the suspicious bank accounts by mapping transaction chains triggered after the December 13, 2025 complaint. The rapid movement of funds across multiple accounts initially complicated the investigation, but detailed scrutiny of transaction logs and digital footprints helped investigators identify account operators and eventually dismantle the network.
Police suspect that the syndicate may have targeted more victims using similar investment fraud tactics and are now examining whether the accused were part of a larger international cybercrime module operating from Southeast Asia.
The arrests highlight the growing trend of Indian cyber fraud networks collaborating with foreign-based operators, particularly in countries that have emerged as hubs for organised online scams. Law enforcement agencies have increasingly flagged cryptocurrency as a preferred medium for transferring illicit proceeds due to its perceived anonymity and speed.
Investigators said further arrests are possible as digital evidence is examined and financial trails are reconstructed. Authorities have urged citizens to exercise caution while engaging in online investment schemes promising unusually high returns.
The case adds to a series of recent crackdowns on investment frauds that exploit social media platforms, encrypted messaging apps, and digital payment systems to dupe unsuspecting individuals of large sums.
Police said efforts are ongoing to trace the remaining funds and identify international collaborators involved in the racket.
About the author – Rehan Khan is a law student and legal journalist with a keen interest in cybercrime, digital fraud, and emerging technology laws. He writes on the intersection of law, cybersecurity, and online safety, focusing on developments that impact individuals and institutions in India.
