Aligarh: In a major crackdown on cyber-enabled investment fraud, Aligarh Cyber Crime Police have busted an interstate racket that allegedly duped investors by promising “guaranteed” returns of up to 200 per cent in the stock market. Twelve accused linked to a six-state network have been arrested, while timely intervention helped avert a potential cyber fraud estimated at nearly ₹500 crore. Authorities also recovered ₹5.64 lakh and returned it to one of the victims.
Police said the accused used social media and messaging platforms to circulate links and add unsuspecting users to WhatsApp groups, where they posed as market experts offering high-yield trading tips. Victims were first encouraged to invest small amounts and shown fabricated profits to build trust, before being pressured into making larger transfers.
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The racket came to light after Dinesh Sharma, a retired Punjab National Bank official, approached the cyber crime cell on January 31, alleging that he had been cheated of over ₹11 lakh through a WhatsApp-based investment scheme. Acting swiftly on the complaint, investigators traced transaction trails, froze suspicious bank accounts and launched a digital forensic probe to map the wider network.
Subsequent raids led to the arrest of suspects from Odisha, Uttarakhand, Chhattisgarh, Haryana, Rajasthan and Uttar Pradesh. Police seized 28 debit and ATM cards, 23 mobile phones, 13 SIM cards, seals of nine fake firms and a laptop from their possession. Officials said at least 13 complaints from Maharashtra, West Bengal, Delhi, Uttar Pradesh and Kerala were found registered against the group on the NCRP portal, confirming its pan-India footprint.
Beyond arrests, cyber teams also carried out preventive outreach. Officers personally contacted nearly 500 people who were members of the fraudulent WhatsApp groups and warned them about the scam, a move authorities say helped prevent large-scale financial losses. “This proactive engagement played a key role in stopping a possible ₹500-crore fraud,” a senior officer said.
Investigators revealed that the accused opened bank accounts in the names of shell firms and routed money through mule accounts to obscure digital trails. Preliminary findings have also pointed to possible overseas links, prompting plans to seek assistance from central agencies. Police said coordination with the CBI and Interpol will be explored if required as the probe widens.
The operation comes amid a surge in cyber investment scams across the country. Recently, Delhi Police conducted ‘Operation CyHawk 3.0’, a nationwide drive that tracked cyber fraud transactions exceeding ₹627 crore. Law enforcement agencies are increasingly relying on data-driven intelligence, NCRP analytics and inter-state coordination to dismantle organised cybercrime syndicates.
Authorities have urged citizens to remain cautious of unsolicited investment offers circulating on social media and messaging apps, particularly those promising “guaranteed” or unusually high returns. Any suspicious links, calls or schemes should be immediately reported on the NCRP portal or to the nearest cyber police station.
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.
