New Delhi | Business Desk: Delhi-NCR police have dismantled an international cybercrime syndicate, arresting five individuals, including a bank relationship manager, involved in a sophisticated financial fraud operation. According to authorities, the network operated through shell companies and multiple current accounts, offering commissions of ₹1.5 lakh for every fraudulent bank account opened.
Deputy Commissioner of Police, Crime Branch, Aditya Gautam, explained that the operation involved a bank official opening unverified accounts, shell companies rerouting defrauded funds to the Middle East, and a Dubai-based kingpin reportedly pocketing proceeds in Bitcoin.
The syndicate came under investigation following an FIR registered on June 23. Police said the probe revealed that the network operated from Noida and Gurgaon under the direction of a Dubai-based handler identified as “Tom.”
“The syndicate operated through fake firms and multiple current accounts, offering commissions of ₹1.5 lakh per fraudulent account opened,” DCP Gautam said.
Technical surveillance and analysis of digital footprints led authorities to a residential complex in Gurgaon. On October 27, a coordinated Cyber Cell raid led by Inspector Sandeep Singh under ACP Anil Sharma resulted in the arrest of Manjeet Singh (28, Hisar), Manshvi (23, Sonipat), and Sombir (43, Bhiwani). Police recovered 10 mobile phones, a laptop, and multiple cheque books from their flat.
Subsequent investigation led to the arrest of Manish Mehra (33, Uttam Nagar, West Delhi) and Anup (35, Bijwasan, Southwest Delhi), the bank employee allegedly facilitating fraudulent account openings and leaking sensitive information regarding account freezes and National Cybercrime Reporting Portal complaints.
The accused have been linked to 52 cyber fraud cases across 12 states, including Tamil Nadu, Karnataka, Goa, Maharashtra, Telangana, Andhra Pradesh, Odisha, Uttar Pradesh, Himachal Pradesh, Punjab, Gujarat, Kerala, and Haryana.
Investigation Findings
Police said the syndicate was coordinated by two Indian nationals operating from Dubai, who remain at large. They maintained operational control using encrypted messaging platforms.
“Dubai-based handlers recruited operatives in India, assigned roles, and remotely monitored operations. This structure allowed them to scale the fraud while minimizing exposure,” DCP Gautam said.
Each member had a defined role:
- Manjeet and Manshvi — created shell companies and opened multiple current accounts to channel stolen funds.
- Sombir — acted as the accountant, maintaining expenditure logs and updating the Dubai-based handler.
- Manish — coordinated debit and credit transactions to enable seamless fund transfers.
- Anup — leveraged his position at the bank to facilitate fraudulent account openings and provide insider regulatory information.
During questioning, the accused admitted to floating three fake companies and opening eight current accounts under names including Boldbridge and Excellencia. Police discovered that funds were layered through multiple accounts and converted into USDT cryptocurrency wallets to obscure the money trail and facilitate international transfers.
“The use of cryptocurrency complicated conventional banking trails and allowed Dubai-based handlers to receive funds without direct banking connections,” an investigating officer said.
Data seized from the Gurgaon flat included information on USDT wallets, 274 PDF bank statements, and Telegram groups used to coordinate transfers. Analysis of digital evidence revealed the scale of the operation, with accounts laundering funds from victims across the country.
