New Delhi – In a major crackdown on organized cyber-enabled financial crimes, the Delhi Police have busted multiple fraud syndicates operating across India, uncovering a ₹5-crore cryptocurrency trail linked to Dubai-based handlers. Four individuals have been arrested in connection with large-scale investment and digital arrest scams.
According to Deputy Commissioner of Police (Crime) Aditya Gautam, the operation involved coordinated raids across Delhi, Haryana, Punjab, and Uttarakhand. The police seized mobile phones, SIM cards, laptops, debit and credit cards, cheque books, and several incriminating documents during the raids.
Fake Firms and Mule Accounts Used for Money Laundering
Investigations revealed that the syndicates established fake companies, mule accounts, and e-commerce fronts to channel and conceal illicit funds. They lured victims under the guise of offering insurance or credit improvement services before misusing their financial details to launder fraudulently obtained money.
The first accused, Atul Sharma, a resident of Haryana, played a key role in an investment scam allegedly directed by Dubai-based handler Sumit Garg. Acting on leads from suspicious e-commerce activity, police raided a location in Gurugram and arrested Sharma, seizing multiple electronic devices and financial documents.
Officials confirmed that cryptocurrency transactions worth nearly ₹5 crore were traced to three wallets controlled by the syndicate.
Digital Arrest Scams and Coercion Tactics
In a separate operation, Rahul Manda, also from Haryana, was arrested in Roorkee, Uttarakhand, for his involvement in a digital arrest racket. Manda allegedly posed as a police or TRAI official to extort victims through intimidation. In one case, a complainant was defrauded of ₹30 lakh. Manda, who has a prior criminal record, had previously served a five-year sentence.
Another accused, Varun Anchal (35), a resident of Punjab, was arrested for his role in a scam in which the victim was duped of ₹26.8 lakh by fraudsters impersonating Mumbai Crime Branch officers. Police said Anchal managed mule accounts, withdrawals, and fund transfers to overseas handlers and had earlier been arrested in similar cases across Punjab and Haryana.
Ex-Banker Provided Accounts for a Commission
The fourth accused, Amit Kumar Singh (31), a former bank employee from Bihar, was found supplying bank accounts to cybercriminals for a commission. His mobile phone contained incriminating chat records, and investigators found evidence that he changed jobs frequently to evade scrutiny. He is linked to an investment fraud case involving ₹39.5 lakh.
The Delhi Police said that the investigation is ongoing and efforts are underway to trace the Dubai-based masterminds. Authorities are coordinating with international enforcement agencies to follow the cryptocurrency trail and freeze suspect digital wallets.
“This operation is part of our continuous efforts to dismantle organized cybercrime networks targeting Indian citizens through impersonation and fraudulent investment schemes,” DCP said.
