Gurugram police have arrested a 24-year-old former auto-rickshaw driver from Gwalior for allegedly working with a cyber fraud syndicate on a 5% commission and helping the gang convert proceeds of fraud into gold. The accused, identified as Jai Verma alias Bittu, allegedly received money linked to a cyber fraud case in which a man lost ₹18.31 lakh from his bank account.
Police said ₹3.31 lakh of the defrauded amount was transferred directly to a jewellery shop’s bank account to facilitate the purchase of gold. The accused allegedly purchased the gold on the instructions of the cyber fraudsters and later handed it over to another person. Investigators have also alleged that he helped the syndicate by providing bank accounts and disposing of money generated through cybercrime.
The case came to light after a man approached the police on June 25 and reported that he had been targeted by a person posing as an Airtel employee. According to the complaint, the fraudster contacted him and persuaded him to convert his mobile SIM into an eSIM. Soon after the process, the victim’s mobile network stopped working.
During the period when his mobile connection was inactive, ₹18.31 lakh was allegedly withdrawn from his HSBC bank account through seven unauthorised RTGS and NEFT transactions. The victim realised that money had been transferred without his permission and approached the police. A case was subsequently registered at the Cyber Crime South police station.
The investigation focused on technical evidence and the banking trail through which the stolen money had moved. Police analysed the transactions and traced part of the amount to a jewellery shop. Further investigation allegedly established a link between the transaction and Jai Verma, who was previously working as an auto-rickshaw driver in Gwalior.
Police arrested Verma on Monday after tracing the bank account and transaction trail. During interrogation, investigators allegedly found that ₹3.31 lakh from the fraud proceeds had been transferred to the jewellery shop. According to the police, Verma visited the shop on the instructions of the cyber fraudsters, used the money to purchase gold and subsequently sold it to another person.
The cyber team managed to trace the account involved in the transaction and placed the amount on hold. The jewellery shop owner later filed a separate cheating complaint against Verma in Gwalior, following which he was arrested in that case as well.
During questioning, police allegedly found that Verma had been working with the cyber fraud syndicate for a 5% commission. Investigators said his role was not limited to receiving or transferring money. He allegedly purchased gold using proceeds of cyber fraud, supplied it to other individuals and helped the syndicate dispose of the proceeds.
Police are now examining the complete financial trail to determine how much money Verma allegedly handled and identify other members of the syndicate. Investigators are also probing the bank accounts allegedly provided by him and the people to whom the gold and other proceeds were supplied.
The accused has been taken into four days of police remand for further questioning. Police are expected to examine his mobile phone, banking records and communication with other members of the alleged syndicate to establish the wider network.
The case highlights how cyber fraud groups increasingly use intermediaries to move stolen money through bank accounts, purchases and other channels to make the funds harder to trace. Converting fraud proceeds into gold can provide another layer between the original victim and the people ultimately controlling the money.
The investigation is continuing, with police focusing on tracing the remaining funds, identifying other suspected members and determining the full extent of Verma’s alleged involvement in the cyber fraud network.
