The Cyber Crime Branch of Delhi Police has arrested two individuals allegedly involved in providing bank accounts to cyber criminals linked with a large-scale online investment scam. The accused opened multiple bank accounts using forged documents and later handed them over to cyber fraud networks. These accounts were reportedly used to siphon off ₹2.35 crore from a victim who was lured through a manipulated forex trading platform.
According to investigators, both accused were operating as professional account facilitators, earning commission per account. Their role was not limited to opening accounts—they also provided complete banking kits, including cheque books, debit cards, passbooks, SIM cards linked to the accounts, and login credentials, enabling criminals to operate remotely without identity verification.
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Accused Identified as Delhi Residents
Deputy Commissioner of Police (DCP) Aditya Gautam confirmed the arrest of Sajjad Ahmad and Uttam Mandal, both residents of Delhi. Police revealed that the duo recently opened a current account under the name “M/s Chand Electronics”, which was later handed over to their handler, believed to be part of a larger cyber syndicate operating across multiple states.
Preliminary investigation indicates that the account was used to route proceeds from a forex trading and high-return investment fraud, in which a Delhi resident was targeted.
Victim Contacted Through Social Media
Police officials stated that the victim was initially contacted via Facebook, where scammers presented lucrative investment opportunities. The victim was then added to a fake “investor community group” designed to create credibility and manipulate trust.
A fabricated trading dashboard was showcased, falsely indicating huge returns. After gaining the victim’s confidence, scammers convinced him to transfer large sums with the promise of guaranteed profits.
However, when the victim attempted withdrawals, he was stalled with repeated excuses—ranging from tax clearance requirements and system errors to threats and intimidation.
Part of a Larger Organized Cyber Syndicate
Police believe the arrested duo worked as a key link in a multi-layered cybercrime ecosystem involving:
- Social media scouts
- Fake call centre operators
- Bank account and SIM supply networks
- Money mules
- Crypto and international fund launderers
Investigators suspect that several more individuals are part of this racket, operating across Delhi, Uttar Pradesh, West Bengal, and Northeast India.
Funds Routed Through Crypto and Overseas Wallets
Officials said the financial trail indicates that a significant portion of the stolen money was quickly converted into cryptocurrency and transferred to offshore wallets to prevent tracking.
“We are now analysing transactions, digital footprints, and communication trails. More arrests are expected soon,” DCP Gautam said.
Police Advisory to Citizens
Delhi Police has urged citizens to remain vigilant against online investment advertisements, unregulated forex schemes, and unsolicited profit-making messages appearing on social media platforms.
Authorities have also issued a stern warning that renting, selling, or sharing bank accounts or SIM cards is a criminal offence and individuals involved—even unknowingly—may face imprisonment under cybercrime and money laundering laws.
