A massive organised cyber fraud network operating across the country has come under the scanner after investigators uncovered an alleged ₹900-crore scam that targeted victims through fake online investment schemes and part-time job offers.
Search operations were conducted at 15 locations across multiple states, and authorities are now seeking custody of the alleged kingpin Ashok Kumar Sharma, a chartered accountant believed to have masterminded the operation.
Investigations have revealed that the network operated from within India but used overseas fintech platforms to move and conceal fraudulent funds, eventually transferring the money outside the country through complex financial transactions.
According to sources, the case surfaced after cybercrime monitoring mechanisms received a large number of complaints related to suspicious online investment and part-time job scams. Preliminary inquiries pointed to a well-organised syndicate, following which coordinated search operations were conducted in Delhi, Uttar Pradesh, Rajasthan and Punjab.
Fraud hub operated from Bijwasan
Investigators found that the alleged network was being run from the Bijwasan area on the Delhi–Gurugram border. From this location, the syndicate reportedly managed its operations, which investigators informally referred to as the “Bijwasan Group.”
Authorities believe Ashok Kumar Sharma played a central role in managing the financial structure of the operation. As a chartered accountant, he allegedly designed complex mechanisms to conceal the proceeds of the fraud and route them through multiple channels.
The probe has so far identified 15 shell companies allegedly created to move and disguise the proceeds of crime. These companies were used to transfer funds across several bank accounts before sending them through various digital channels to conceal the original source.
How victims were trapped
According to investigators, the syndicate used social media platforms, mobile applications and encrypted messaging services to approach potential victims.
People were lured with promises of high returns from online investments and the opportunity to earn easy money through work-from-home part-time jobs. Initially, victims were asked to deposit small amounts and were shown fabricated profit figures through fake dashboards or screenshots to build trust.
Once confidence was established, victims were persuaded to invest larger sums of money. In several cases, they were assured that their funds were secure and that significant profits would be released soon.
However, as soon as larger deposits were made, the fraudsters would abruptly cut communication, leaving victims unable to recover their money.
Mule accounts and overseas ATM withdrawals
Investigators also found that the defrauded funds were first transferred to mule bank accounts. These accounts were typically opened in the names of individuals who often had little or no knowledge of the larger fraud network.
From these accounts, money was withdrawn abroad using debit cards enabled for international transactions, allowing members of the network to access funds through overseas ATMs.
In addition, a portion of the money was routed through wallet top-ups on foreign fintech platforms. These transactions appeared in banking systems as regular Point-of-Sale (POS) transactions, making it easier for the perpetrators to conceal the money trail.
Use of international fintech platforms
The investigation revealed that the syndicate heavily relied on a Dubai-based overseas fintech platform to transfer and circulate funds.
Through digital wallet transfers, the money was moved across multiple accounts and, in some cases, further routed through cryptocurrency transactions. This multi-layered movement of funds made it significantly more difficult for investigators to trace the exact path of the money.
Cyber expert issues warning
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said such organised cyber gangs are increasingly moving away from traditional banking channels and are now using social engineering tactics, fake investment schemes and overseas fintech platforms to execute large-scale fraud.
According to him, fraudsters typically begin by showing fake profits on small investments to gain victims’ confidence before convincing them to deposit larger amounts.
He advised the public to carefully verify any online investment opportunity or part-time job offer before transferring money, as many such schemes are designed solely to trap unsuspecting users.
Investigators are now working to identify other individuals linked to the network and trace additional financial connections. Officials believe that more arrests and significant financial disclosures could emerge as the probe progresses.
About the author – Ayesha Aayat is a law student and contributor covering cybercrime, online frauds, and digital safety concerns. Her writing aims to raise awareness about evolving cyber threats and legal responses.
