Gurugram Cyber Crime Police have arrested a man accused of providing a bank account used in an alleged ₹1.43 crore online investment fraud.
The accused, identified as Harjeet Singh from Uttarakhand, was arrested by the Sector 56 Cyber Crime Police team on Thursday.
Police allege that ₹12.80 lakh from the defrauded amount passed through a bank account that Harjeet had opened with another associate and later provided to cybercriminals.
He allegedly received ₹2 lakh in return for arranging the account.
The allegations remain under investigation and have not been proved in court.
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Victim Allegedly Lured With Stock Market Returns
The case began with a complaint received by Gurugram Police on December 4, 2025.
According to the complaint, fraudsters approached the victim with promises of attractive profits through stock market investments.
The victim was allegedly persuaded to transfer money to several bank accounts controlled or supplied by the accused.
Over time, the complainant transferred a total of ₹1,43,71,000.
Problems began when the victim attempted to withdraw or recover the investment.
Instead of returning the money, the alleged fraudsters reportedly demanded additional payments under different pretexts.
The victim then realised that the investment opportunity may have been fraudulent and approached police.
Such schemes often rely on a familiar pattern.
Victims may initially be shown fake profits or account balances to convince them that their investment is growing.
When they try to withdraw money, scammers may demand taxes, processing fees or additional deposits before releasing the supposed profits.
The promised withdrawal never arrives.
₹12.80 Lakh Traced to Account Linked to Accused
Police followed the financial trail after registering the case.
Investigators say ₹12.80 lakh of the stolen amount entered a bank account connected to Harjeet Singh.
During questioning, police allegedly found that Harjeet and another person had jointly arranged the account and later made it available to the cybercrime network.
Harjeet allegedly received ₹2 lakh as commission.
ACP Cyber Crime Gaurav Phogat said the accused has been taken on three days’ police remand for further questioning.
Investigators are expected to examine who instructed him to arrange the account, who controlled the transactions after the money arrived and where the funds moved next.
Police may also try to identify the other accounts used to receive the remaining fraud proceeds.
The arrest focuses attention on a critical part of organised cyber fraud: the bank accounts used to receive victims’ money.
How Mule Accounts Help Cyber Fraud Networks
A mule account is a bank account used to receive or move money obtained through fraud.
The person whose name appears on the account may not be the mastermind of the scam.
Instead, cybercriminals often pay account holders or intermediaries to open accounts and hand over access.
Once a victim transfers money, funds can be moved through several such accounts before reaching the people running the fraud.
That layering makes the money trail harder to follow.
Some account holders knowingly rent or sell their accounts for commission, while others may be misled about how the account will be used.
Police across India have increasingly targeted mule-account networks because online fraud cannot operate efficiently without channels for receiving stolen funds.
Banks and law-enforcement agencies can sometimes freeze money if fraud is reported quickly.
But once funds are transferred repeatedly across multiple accounts or converted into other assets, recovery becomes more difficult.
Investment Scams Continue to Target Retail Investors
Fake investment schemes have become one of the most costly forms of cybercrime in India.
Fraudsters commonly impersonate stock market experts, brokers or investment advisers and contact potential victims through WhatsApp, Telegram and social media.
Victims may be added to groups filled with fake members who post screenshots showing apparently large profits.
The social proof can make the platform appear genuine.
Scammers may then direct investors to fake trading websites or applications where balances and profits can be manipulated by the fraudsters themselves.
The Gurugram case remains under investigation, and police have not yet disclosed whether a fake trading application or messaging group was used.
The financial trail, however, shows why beneficiary accounts are becoming a major focus for investigators.
Identifying the people who supply those accounts can help police move closer to the organisers controlling the wider network.
What this means for you:
Do not transfer large investment amounts to bank accounts supplied through WhatsApp or social media without independently verifying the broker or platform. If withdrawals are blocked and more money is demanded, stop paying and report the transaction immediately on 1930.
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