New Delhi | In a major crackdown on organised cybercrime, the Delhi Police Cyber Unit has dismantled a multi-state cyber fraud and hawala network, arresting its alleged mastermind from Lucknow. The accused had duped a senior citizen of ₹33.10 lakh through a fraudulent online investment scheme. Investigations revealed that the swindled funds were routed through shell companies and hawala channels across several states.
Officials said the operation was initiated after a 61-year-old victim filed an e-FIR, claiming he had lost his lifetime savings to a scam promising high returns on digital investments.
Money Routed Through Fake Firms and Shell Accounts
Police investigations uncovered that the defrauded amount was funnelled through multiple fictitious bank accounts linked to shell entities. One of these, ‘Belcrest India Pvt Ltd’, was found to be a fake company. Of the total amount, around ₹10.68 lakh had been traced to accounts associated with this entity.
Earlier, two accused had been arrested in Delhi, and their interrogation led investigators to Deepanshu, identified as the key operator of the network.
Mastermind Deepanshu Nabbed After Night-Long Operation
Deputy Commissioner of Police (Cyber) Aditya Gautam said that Deepanshu was apprehended after an overnight operation in Mohanlalganj, Lucknow. Police recovered two mobile phones, three cheque books, and two debit cards from his possession.
During questioning, Deepanshu reportedly admitted to creating dummy directors and floating shell companies to open bank accounts under fictitious names. He allegedly worked under the instructions of his “handlers” and had links with bank officials and financial agents, who helped him in setting up fraudulent accounts used to launder the money.
Funds Laundered via Hawala and Cryptocurrency Channels
The investigation further revealed that the siphoned funds were moved through several entities, including CSP24SEVEN Technologies and Levin Fintech. These companies were allegedly used to layer the funds through multiple bank accounts before diverting them through hawala routes and cryptocurrency channels to conceal their origin.
Officials said the fund trail is being tracked with the assistance of multiple banks and financial intelligence agencies to determine the final destination of the laundered money.
Wanted NDPS Accused Also Arrested
During surveillance operations in Lucknow, the team received inputs about the presence of another wanted accused, Rishab Singh, who was absconding in an NDPS Act case registered by the Delhi Police Special Cell.
Following continuous monitoring, both Deepanshu and Rishab were arrested from the same locality. Preliminary findings suggest that Rishab had arranged accommodation for Deepanshu to help him evade arrest.
Cross-Border Network Under Probe
Investigators suspect that the gang is part of a larger cyber-hawala syndicate operating across multiple states, with possible cross-border links. The police are now examining whether the defrauded funds were transferred to overseas accounts or digital wallets managed by international handlers.
Officials added that efforts are underway to identify the masterminds, beneficiaries, and financial intermediaries involved in the racket, using both technical surveillance and financial analysis tools.
Police Advisory: Be Wary of ‘Too-Good-to-Be-True’ Investment Offers
The Delhi Police has urged citizens to exercise caution while engaging in online investment offers or schemes promising unrealistically high returns. Officials warned that cybercriminals are adopting increasingly sophisticated methods to target unsuspecting victims — particularly retired professionals and senior citizens.
