In a major breakthrough against transnational cyber fraud, the Delhi Police have busted a city-based syndicate that allegedly sold hundreds of Indian bank accounts to Chinese operatives through encrypted Telegram channels, enabling investment scams worth ₹170 crore across the country in just five months.
Four men, who allegedly ran the operation from a rented two-bedroom apartment in Rohini, were arrested following a detailed technical investigation.
How the Investigation Began
The probe was launched after a Delhi resident lodged a complaint claiming he had lost ₹20 lakh in an online investment scam. The victim said he responded to a social media advertisement promising high financial returns, after which a woman contacted him and added him to a WhatsApp group offering “investment opportunities.”
He was instructed to transfer funds to several bank accounts, but when neither his promised profits nor principal were returned, he realized he had been defrauded and approached the police.
“The pattern matched other similar cases across the country, suggesting a large-scale organized racket,” said DCP (Outer) Sachin Sharma.
Technical Trail Leads to Rohini
A special team led by Inspector Gaje Singh analysed IPDRs, call detail records (CDRs), and IMEI data linked to beneficiary accounts used in the fraud.
The digital trail led investigators to Sector 11, Rohini, from where the suspects were ultimately apprehended on October 17.
The arrested individuals were identified as:
- Saurabh Gupta (41) — the alleged kingpin, a former property dealer who masterminded the syndicate.
- Indra Kumar (36) — a former property broker who handled documentation and field operations.
- Mohit Kumar (32) — previously employed as a recovery agent, responsible for maintaining records and spreadsheets.
- Bishal Shreshtha (28) — a Nepalese national and ex-storekeeper, who managed bank accounts and cheque books.
How the Scam Worked
According to investigators, the gang created or procured current bank accounts under forged or manipulated KYC documents, which were then sold to Chinese clients through Telegram channels.
These accounts were used by Chinese fraud networks to receive deposits from victims of online investment scams across India.
The suspects allegedly earned a 2% commission on every account sold, with payments made in cryptocurrency, later converted into cash through local exchanges.
“So far, 146 complaints from across India have been linked to this syndicate,” DCP Sharma said.
Seizures and Evidence Collected
During the raids, police seized a large cache of electronic equipment and forged documents, including:
36 smartphones, 26 keypad phones, 43 SIM cards, eight laptops, three printers, 24 rubber stamps from nine companies, 16 ATM cards, 41 cheque books and passbooks, PAN, Aadhaar, and voter ID cards, Wi-Fi cameras, and a pen drive.
Investigators believe the gang played a key role in supplying Indian bank accounts to foreign cybercrime syndicates, forming a critical link in a wider network responsible for multi-crore investment frauds.
Further Investigation Underway
Authorities are now analysing cryptocurrency transactions, communication logs, and banking data to trace the full money trail and identify links between the gang and Chinese handlers.
“The objective is to dismantle the entire ecosystem that allows foreign fraudsters to misuse Indian financial infrastructure,” a senior police officer said.
Police sources added that the case has also been shared with the Enforcement Directorate (ED) and cybercrime units in other states for coordinated follow-up action.
