The Cyber Crime Police Station in Panchkula has arrested three accused in separate cyber fraud cases involving fake cryptocurrency trading, bogus stock market investments and fraudulent online investment schemes. Two other accused have been sent to judicial custody after completion of their police remand. Investigators have uncovered crucial leads related to an alleged interstate cybercrime network, including fake bank accounts, digital wallets and money trails.
According to the police, the arrests were made during an ongoing investigation by the Cyber Crime Police Station in Sector 20. The accused were identified through technical surveillance, analysis of bank transactions and examination of digital evidence. During interrogation, they allegedly disclosed details about fake bank accounts, SIM cards, digital wallets, fund transfers and other associates connected to the network. Police said further arrests are likely as the investigation progresses.
In the first case, police arrested Vishnu alias Billa, a resident of Fatehabad, and Surya, a resident of Hisar, for allegedly defrauding a victim of ₹83.22 lakh through a fake cryptocurrency trading platform. According to investigators, the victim’s son was contacted through social media and persuaded to invest in cryptocurrency with promises of high returns. The money was allegedly routed through multiple bank accounts, UPI IDs and fraudulent websites. A court has remanded both accused to four days of police custody.
In the second case, Ajay Kumar was arrested for allegedly cheating a retired Army Colonel of ₹2.34 crore through a fake investment application, WhatsApp groups and false promises of lucrative stock market returns. The investigation has revealed suspected links to a larger interstate cyber fraud network. Ajay Kumar has been remanded to two days of police custody, while co-accused Nishant has been sent to judicial custody after completion of his police remand.
In the third case, Sonu, a resident of Hisar district, was arrested for allegedly cheating a retired Army Lieutenant Colonel of ₹10.58 lakh through a fake investment scheme. Police alleged that the accused convinced the victim to invest money by promising unusually high profits. After completing three days of police custody, Sonu was produced before a court and remanded to judicial custody. Investigators are continuing efforts to identify and apprehend other members of the alleged network.
According to the Future Crime Research Foundation, cybercriminals increasingly use social media platforms, WhatsApp, Telegram, YouTube and other digital channels to promote fraudulent investment opportunities. Victims are often shown small initial profits to build confidence before being persuaded to invest larger amounts, after which the fraudsters disappear. Such networks typically rely on multiple bank accounts, mule accounts, digital wallets and cryptocurrency transactions to conceal the movement and origin of illicit funds.
Police have advised the public to independently verify the authenticity of any investment opportunity before transferring money. People have been urged to remain cautious of cryptocurrency trading offers, stock market investment schemes and other high-return proposals circulated through social media or messaging platforms. Authorities also stressed the importance of verifying the legitimacy of any website, application or investment platform before making financial transactions. Investigators believe that further analysis of digital evidence could expose additional members of the network operating across multiple states as well as the broader financial infrastructure supporting the fraud.
