Delhi Police have arrested four individuals after dismantling an inter-state cyber fraud gang accused of cheating people by posing as investment and stock market experts. The arrests were made following a complaint filed by a man who was allegedly defrauded of Rs 45 lakh through a sophisticated online investment scam. Police said the group used technically advanced methods and coordinated operations across multiple states to target victims.
According to investigators, the scammers contacted potential victims through platforms such as WhatsApp and X, presenting themselves as professional investment advisors. They allegedly promised unusually high returns and attempted to build trust by sharing fabricated screenshots of profitable trades and fake customer testimonials within online groups. These tactics were designed to convince targets that the investment scheme was legitimate and profitable.
Police said the gang’s primary strategy involved persuading victims to download a fake trading application. Once installed, the app displayed fabricated portfolio growth and rising profits, encouraging victims to invest larger amounts of money. The complainant reportedly continued investing after seeing apparent gains reflected on the app. However, when he attempted to withdraw funds, the fraudsters cut off communication by deactivating their social media accounts, and the application stopped functioning.
Investigators revealed that the accused operated through a well-organised network spread across Delhi, Punjab, and Rajasthan. Technical surveillance and analysis of banking transactions helped authorities trace the money trail, showing that the Rs 45 lakh taken from the victim had been routed through eight different bank accounts. The gang allegedly used “mule accounts,” rented for commission, to move and conceal the funds, with accounts operated using fake SIM cards to avoid detection.
During the operation, police recovered four mobile phones and six SIM cards from the accused. In addition to the arrests, a woman linked to one of the suspects has been “bound down,” meaning she has been legally directed to appear before police whenever required, after investigators traced a portion of the fraudulent proceeds to her bank account.
Authorities said the case highlights the increasing sophistication of financial scams and have urged citizens to remain cautious of unsolicited investment advice, especially schemes promising guaranteed or unusually high returns through unknown digital platforms.
