New Delhi: Delhi Police have uncovered an organised cyber-financial fraud racket with international links, arresting three men accused of cheating a city resident of ₹42.5 lakh through a stock market investment scam. Investigators say the operation involved a web of dummy bank accounts, cryptocurrency transactions and foreign handlers, pointing to a sophisticated laundering mechanism designed to evade detection.
The case came to light after a 56-year-old man from Uttam Nagar approached police, alleging that fraudsters had lured him into making stock market investments through online platforms and messaging apps. According to the complaint, once the money was transferred, the promised returns never materialised and all communication abruptly stopped.
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An e-FIR was registered on December 17, 2025, triggering a detailed financial trail analysis. During the probe, investigators found that the cheated amount had been layered through at least 36 bank accounts, a tactic commonly used to obscure the final beneficiaries and slow down recovery efforts.
The trail eventually led police to Sabbir Ahmed, a resident of Munirka village in southwest Delhi, whose bank account was identified as a key beneficiary node in the transaction chain. Ahmed was arrested on January 21 after police established that multiple suspicious credits linked to the fraud had passed through his accounts.
During questioning, Ahmed allegedly disclosed that he had opened nine to ten bank accounts across different banks, handing over full bank kits — including ATM cards, cheque books and internet banking credentials — to two associates, Mohammad Sarfaraz and Mohammad Dilshad, both residents of Batla House.
Investigators said Ahmed admitted that he earned a commission of around two per cent on the money that flowed through these accounts. Based on his statements and corroborating evidence, Sarfaraz and Dilshad were arrested on February 5.
Police said the duo played a central role in managing the wider network. During interrogation, they allegedly revealed links with Chinese handlers, who coordinated the movement of funds and facilitated cross-border transactions. The accused are also suspected of being involved in the sale of USDT cryptocurrency to foreign nationals, suggesting that part of the cheated money was converted into digital assets to further mask its origin.
According to investigators, Sarfaraz and Dilshad were responsible for arranging dummy candidates to open bank accounts, often using forged or misleading documentation. They also allegedly coordinated with bank insiders to speed up account openings and bypass red flags, though police said the role of bank staff is still under scrutiny.
In an apparent attempt to destroy evidence after learning of Ahmed’s arrest, the accused allegedly destroyed cheque books and broke a registered SIM card linked to the fraudulent transactions. Police, however, managed to recover the mobile handset used with the SIM, which is now being examined for call records, messages and digital footprints connected to the racket.
Further checks revealed that all three accused had been arrested earlier in a separate cyber fraud case registered in September 2025, raising concerns about repeat offences and gaps in monitoring known cybercrime suspects.
Investigators believe the racket is part of a larger international cyber-fraud ecosystem, where local operatives handle account logistics and cash movement while foreign handlers control strategy, victim targeting and cryptocurrency conversion. Police are now working to identify additional accounts, trace overseas money flows and establish the full extent of the network.
Authorities said efforts are underway to recover the defrauded amount and to determine whether more victims were targeted using the same infrastructure. Requests for information and technical assistance are also expected to be sent to agencies dealing with cross-border cybercrime.
Police have urged citizens to exercise caution while responding to unsolicited investment offers on social media, messaging platforms and online forums, stressing that guaranteed returns and pressure to act quickly are common red flags in cyber-investment frauds.
With digital fraud cases rising sharply, officials said the investigation highlights the growing sophistication of cybercrime networks and the need for tighter coordination between financial institutions, law enforcement and international agencies to disrupt such operations at scale.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
