After nearly a year of investigation, Panchkula police have arrested a prime suspect in a ₹1.5 crore cyber fraud case that highlights the growing sophistication of online financial crimes targeting small business owners.
The complaint was originally filed on October 10, 2024, by Somesh Mittal, a 43-year-old garment trader from Zirakpur’s Sector 21. Mittal reported that he was drawn into an elaborate trading scheme through a Telegram channel that promised unusually high returns. By the time he realized the scheme was fraudulent, he had already transferred substantial amounts of money over several months.
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Between November 2023 and March 2024, Mittal made repeated investments through a mobile application linked to the group. Each transaction appeared legitimate, with fabricated dashboards showing rising profits. However, when Mittal attempted to withdraw funds or seek clarification, the contacts went silent and their phone numbers were deactivated.
A Year-Long Pursuit
Despite multiple attempts, early investigations into the fraud stalled as the perpetrators used encrypted messaging, disposable phone numbers, and shifting bank accounts to obscure their identities. The breakthrough came when investigators traced digital footprints leading to Rajesh Kumar, a resident of Etah district in Uttar Pradesh.
Following a targeted raid, Kumar was taken into custody last week and remanded to five days of police custody. Authorities said the arrest marks a crucial development in dismantling the wider network. During interrogation, Kumar disclosed that several accomplices were part of the operation, prompting coordinated raids across Uttar Pradesh to apprehend other suspects.
Expanding the Investigation
Police officials emphasized that the case reflects broader patterns of cyber-enabled fraud that exploit trust in online platforms and prey on individuals seeking rapid financial gains. Investigators suspect that the group used layered bank accounts and mule operators to launder the money, making recovery of funds challenging.
Authorities have urged citizens to exercise caution with online investment offers, especially those routed through unregulated platforms like messaging apps. Cyber experts note that such schemes often deploy social engineering tactics, exploiting both greed and trust.
As the investigation widens, police believe the network could be linked to similar scams reported in neighbouring states. Further arrests are expected in the coming weeks, potentially exposing the structure of one of the region’s most persistent cyber fraud operations.
