The Uttar Pradesh Special Task Force (UP STF) achieved a major breakthrough against organized cybercrime after apprehending 36-year-old Anurag Arvind Srivastava, the alleged kingpin of an interstate fake initial public offering (IPO) and stock trading syndicate. Operatives arrested Srivastava at his residence in Mankapur, Nagpur, following months of technical surveillance and intelligence gathering. Investigators transferred the accused to Lucknow on a transit remand to face formal charges at the local Cyber Crime Police Station. Official records link the syndicate to a staggering 3,087 complaints registered on the National Cyber Crime Reporting Portal (NCRP), with the total defrauded amount estimated at approximately ₹2,934 crore across multiple Indian states.
Fraudulent Social Media Ads and the ‘ACI Century’ App
Investigators revealed that the syndicate targeted potential victims through deceptive advertisements circulated on Instagram, Facebook, and WhatsApp, offering free stock market analysis and high-return IPO opportunities. Prospective investors were funneled into restricted WhatsApp channels, including one named the “VIP9-6 ACI Exclusive Guidance Group”. Within these groups, syndicate members shared fabricated screenshots showing extraordinary trading profits and conducted online training sessions to establish trust.
Once credibility was established, victims were persuaded to download a fraudulent investment platform named the “ACI Century App” via custom web links. While the application displayed fake profit dashboards and inflated portfolio balances to trick investors, all deposited capital was systematically routed into multiple mule bank accounts controlled by the syndicate rather than legitimate stock market instruments.
Fantasy Gaming Portal ‘My Ground 11’ Used as a Financial Front
During interrogation, Srivastava disclosed that in 2022 he collaborated with several co-conspirators—including Vinod Kumar Rathore, Vivek Kumar Singh, Shivanika, Nadeem Sheikh, Sudhir, Sanchit, and Mukesh—to float a company titled My Ground 11 Gaming Zone Private Limited. While the entity was publicly presented as a legitimate fantasy sports platform, the STF established that it served as a primary front to process and disguise illicit financial transactions generated through investment fraud.
To expand the scheme, the syndicate encouraged early investors to recruit relatives, friends, and colleagues. This multi-tiered referral model allowed the scam to spread rapidly nationwide, drawing substantial capital into accounts linked to the gaming portal.
Asset Seizures, Frozen Accounts, and Expert Security Guidance
During the raid in Nagpur, STF officers recovered significant physical evidence, including a laptop, an iPhone, an SUV, three corporate rubber seals, 139 company documents, six blank cheque books, and two unsigned cheques valued at ₹3.17 crore and ₹2.50 crore (totalling ₹5.67 crore). Authorities have successfully frozen nearly ₹2 crore across various beneficiary accounts and are scrutinizing digital devices to trace additional crime proceeds. Srivastava faces 11 cases in Lucknow and an additional case registered in the Andaman and Nicobar Islands.
Commenting on the case, renowned cybercrime expert and former IPS officer Prof. Triveni Singh warned that fraudsters routinely exploit public interest in stock trading by constructing convincing digital ecosystems. He advised citizens to independently verify the regulatory standing of every platform with SEBI before transferring funds, noting that promises of guaranteed stock returns are clear indicators of financial fraud.
