New Delhi: Delhi Police have uncovered a multi-state cyber fraud syndicate responsible for scams involving digital arrests, fake initial public offerings (IPOs), and online trading, resulting in financial losses of approximately ₹10.6 crore across 89 complaints. The syndicate primarily targeted unsuspecting citizens, including elderly individuals, using tactics of deception, fear, and inducement.
According to police sources, in one digital arrest case, an elderly couple was allegedly held under psychological pressure for nearly a week by fraudsters posing as officials from TRAI and CBI. During this time, the victims were coerced into transferring ₹20 lakh. Investigation revealed that ₹18.5 lakh had been routed to a bank account operated by accused Shashikant Kumar, which was linked to 35 other complaints amounting to nearly ₹2 crore. Shashikant was apprehended from Ranchi.
FCRF Launches Premier CISO Certification Amid Rising Demand for Cybersecurity Leadership
In a separate case involving a fake IPO scheme, a victim was cheated of ₹7.79 lakh through a fraudulent investment platform hosted on a fake mobile application. Accused Khalid Tyagi was arrested from Roorkee after attempting to evade arrest and flee abroad. His account was linked to 25 complaints involving over ₹4 crore in fraud.
A third case involved accused Sachin Mittal, arrested from Shahdara, who lured investors with promises of high returns on fake trading platforms. His accounts were connected to 24 complaints amounting to over ₹1 crore.
In another digital arrest case involving SIM misuse and threats, three accused — Asif, Nitin Saini, and Virender Mukkhiya — were arrested during raids in Madhya Pradesh, Uttar Pradesh, and Delhi. Authorities reported 100% recovery of funds in this case.
Experts say these incidents highlight the fragile state of cyber security and online investments, with ordinary citizens, particularly the elderly, being the most vulnerable. They warn that syndicates are increasingly using advanced social engineering and technological methods to deceive victims.
Police officials confirmed that interrogations of the arrested individuals are ongoing and investigations are underway to uncover potentially larger networks. Citizens have been urged to exercise extreme caution when sharing personal information or conducting any digital financial transactions.
Analysts note that the operational methods of such cybercriminal networks are evolving rapidly. They emphasize that technical safeguards alone are insufficient, and public awareness and cyber vigilance are essential to protect investments and personal data.
This crackdown underscores that strict enforcement against multi-state cyber syndicates, combined with widespread awareness campaigns, is critical to preventing such fraud. Delhi Police’s actions serve as a cautionary example for citizens and investors across other states.
Key Highlights:
- Total fraud exposed: ₹10.6 crore across 89 complaints
- Six arrests: Shashikant Kumar (Ranchi), Khalid Tyagi (Roorkee), Sachin Mittal (Shahdara), Asif, Nitin Saini, Virender Mukkhiya
- Recovery: 100% funds recovered in digital arrest/SIM misuse case
- Methods: Social engineering, fake IPOs, fake trading apps, psychological coercion
The case demonstrates the importance of vigilance and proactive measures to combat cyber fraud, particularly in the rapidly expanding digital investment space.
