A 32-year-old man from Jaipur, Rajasthan, has been arrested in connection with an alleged cyber fraud in which a Gurugram resident was duped of more than ₹3.26 crore on the promise of high returns from share market investments. The accused, identified as Maliram Meena, allegedly provided the bank account of his firm to cyber fraudsters for ₹1.40 lakh. Police suspect that the account was subsequently used to route part of the money obtained through the fraud.
The accused was arrested from Jaipur on Tuesday by a team from the Cyber Crime Police Station South. He was produced before a court and subsequently taken into one-day police custody. Investigators are questioning him about the financial transactions, recovery of the cheated money and the involvement of other members of the suspected cyber fraud network.
According to the police, the fraud began when the complainant was contacted through WhatsApp by people who allegedly promised unusually high returns on investments in the share market. After the initial communication, the victim was added to a WhatsApp group where investment-related messages and claims of substantial profits were allegedly circulated to build credibility.
The fraudsters subsequently instructed the complainant to transfer money into different bank accounts. Trusting the investment scheme, the victim allegedly transferred a total of ₹3 crore 26 lakh 40 thousand through multiple transactions.
The fraud came to light when the complainant attempted to withdraw the invested amount along with the promised returns. Instead of processing the withdrawal, the fraudsters allegedly demanded additional money on various pretexts. The repeated demands raised suspicion, following which the victim realised that he had allegedly been trapped in a cyber fraud and approached the police.
After receiving the complaint, investigators began examining the bank accounts used to receive the money and traced the movement of the funds. During the financial investigation, police found that ₹24 lakh from the cheated amount had reached the Bandhan Bank account of a company.
Further examination allegedly revealed that ₹6 lakh 60 thousand and ₹2 from this amount had subsequently been transferred to an Axis Bank account belonging to another company. The account was found to be connected with accused Maliram Meena.
Investigators examined the account details and transaction records before identifying Meena as a suspected link in the financial chain. A police team subsequently travelled to Jaipur and arrested him.
During questioning, Meena allegedly told investigators that he had provided his firm’s bank account to another person for ₹1.40 lakh. Police said Meena runs a tea stall and had established a firm in the name of his business. A bank account was subsequently opened in the name of the firm.
Investigators suspect that the account was later handed over for use by people involved in cyber fraud. Police are now trying to establish the identity of the person to whom Meena allegedly provided the account and determine who actually operated it during the transactions.
The investigation is also focused on tracing the complete money trail of the ₹3.26 crore-plus fraud. Police are examining how much money entered each account, where it was transferred next and who ultimately benefited from the funds. Investigators are also looking into whether Meena had previously provided his bank account to other individuals or suspected fraud networks.
Police are questioning the accused about the transactions carried out through his account and the people with whom he allegedly had contact. The investigation will also examine the roles of other suspected members of the network and determine whether additional bank accounts were used to move the cheated money.
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said providing bank accounts to cyber fraudsters for rent or commission has emerged as a serious challenge. Fraud networks often use accounts belonging to other individuals to receive and rapidly transfer stolen money through multiple layers, making it difficult to identify the ultimate beneficiaries. Providing an account to another person does not remove the account holder’s responsibility, and investigators examine the circumstances and role of the account holder as part of the financial trail.
The Gurugram case also highlights the growing threat of online investment scams in which victims are first attracted with promises of extraordinary profits and later persuaded to transfer large sums into multiple accounts. The investigation is now focused on connecting the financial links, recovering the cheated money and identifying the other people allegedly involved in the network.
