The Gurugram police have arrested a 29-year-old man from Hisar for allegedly facilitating a cyber fraud syndicate by providing his bank account to siphon off illicit proceeds in a 1.08 crore rupee investment fraud. The accused, identified as Kuldeep, a resident of Kharia village in Hisar, was taken into custody on Monday by a team attached to the Gurugram Sector-56 cybercrime police station. Investigators revealed that 3.74 lakh rupees from the total amount swindled from a local resident had landed in a private bank current account operated by the accused.
Stock Market Scheme Lured Victim Into High Returns Trap
The fraudulent operation surfaced on November 8 last year when the victim approached the Cybercrime Police Station (West) to report that he had been cheated of 1.08 crore rupees. The complainant stated that he had been lured into an investment scheme promising lucrative returns in the stock market. Convinced by the assurances, he transferred substantial funds across multiple designated bank accounts on instructions from the fraudsters. Following the complaint, the police registered a case under relevant provisions of the Bharatiya Nyaya Sanhita and launched an inquiry into the financial trail.
A detailed forensic examination of the banking transactions revealed that a portion of the defrauded sum had been deposited directly into Kuldeep’s account. Investigators mapped the fund movements from the initial deposit onward, eventually pinpointing the identity of the account holder in Hisar.
Commission-Based Arrangement Facilitated Swift Fund Movement
During sustained interrogation, Kuldeep allegedly disclosed that he had opened a current account in a private bank specifically to provide it to an associate for handling suspicious financial transactions. Under the arrangement, he received a predetermined commission each time a large sum was credited to the account. Once the money arrived, the accused would retain his share and either withdraw the remaining cash to deposit it into another account or route the balance online to different beneficiaries.
Investigators noted that such accounts play a central role in contemporary cybercrime operations, functioning to receive and rapidly disperse ill-gotten money across scattered nodes. In these inquiries, the liability of the account holder hinges on their awareness regarding the illicit origin of the funds and the underlying purpose for which the banking facility was shared.
Investigation Intensifies to Trace Syndicate Associates
The Gurugram police are currently examining the transaction history surrounding the 3.74 lakh rupees received by Kuldeep alongside multiple linked accounts and digital transfers. Officers are working to trace the entire money trail to identify the associate who handled the transactions and establish the wider contours of the fraud network. The inquiry also focuses on uncovering the identities of other operatives involved in collecting money from the victim, managing inter-account transfers, and executing cash withdrawals. Further investigation is underway to track down the remaining individuals connected to the syndicate.
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