New Delhi | November 24, 2025 — The Delhi Police Crime Branch has arrested four individuals, including two women, for allegedly running a large-scale online investment scam that defrauded people across several states. The syndicate is suspected to have siphoned off nearly ₹10 crore by enticing victims through social-media interactions and routing the money through a network of mule bank accounts.
Complaint Triggered Probe; One Victim Lost ₹49.35 Lakh
The investigation began after a complaint was filed on June 14. The complainant told the police that he had been approached by a woman on social media who persuaded him to invest through a trading platform promising high returns. Convinced by the communication, he transferred money in multiple tranches amounting to ₹49.35 lakh. However, when he tried to withdraw the purported profits, both the website and the handler disappeared. Based on the complaint, police registered a case under sections related to cheating, impersonation, and use of forged electronic records.
Cyber Cell Tracked Financial Trails, Identified Four Accused
The Cyber Cell analysed digital pathways, transaction logs, chat histories and the back-end pattern of the fraudulent trading portal. The team noticed that the siphoned amount had been channelled through multiple layers of mule bank accounts—accounts opened in the names of financially vulnerable or low-income individuals.
Through this trail, police identified and arrested the following:
- Atul Kumar (34)
- Ajay Sharma (28) — identified as a key operator in the syndicate
- A 54-year-old woman — performed a similar role as Sharma, managing mule accounts
- Varsha Sharma (35) — mule account holder
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Micro Money-Laundering Network: Lakhs Moved Through Each Account
According to DCP (Crime), the syndicate was using a sophisticated “layering” model of money-laundering—routing funds across numerous accounts to obscure the origin and final destination of the money.
Key findings include:
- The 54-year-old woman received around ₹3 lakh in her mule account
- Varsha Sharma and Atul Kumar received approximately ₹3.69 lakh
- Their accounts were linked to over 67 cyber-fraud cases
Police also learned that most mule-account holders had no direct contact with the masterminds. Instead, local field agents collected their documents, opened accounts, and paid them commissions for each transaction.
‘Honey-Trapped Investment Model’ on Social Media
Investigators said several victims were first contacted via female or foreign-seeming social-media profiles. After weeks of conversation, victims were directed to a trading portal where a fabricated dashboard showed “real-time profits.”
Unaware that the panel was fake, victims continued investing more, believing their money was growing. In reality, funds were being diverted almost instantly into the mule-account chain.
Network Spread Across Multiple States
Police discovered that the fraud syndicate had a footprint in: Delhi, Uttar Pradesh, Haryana, Maharashtra. Local labourers, homemakers, and unemployed youth were often used to operate mule accounts.
Authorities Warn of Rising Fake Investment Platforms
Officials noted that India has seen a sharp rise in “task-based” investment frauds—many run by overseas operators but supported by local account handlers. DCP advised citizens to exercise extreme caution:
“Do not engage with investment offers sent by unknown social-media profiles. Verify the authenticity of any platform before transferring money. No legitimate investment platform guarantees overnight returns.”
Police Now Tracing the Higher-Level Network
Investigators believe the four arrests mark only the frontline layer of a much bigger operation. The masterminds may be operating from outside India, using foreign servers and intermediaries. Police are now analyzing deeper financial paths, crypto trails, and call-data records to identify the larger network.
