Delhi Police Dismantle Chinese-Linked Stock Market Fraud Syndicate

The Delhi Police's Intelligence Fusion and Strategic Operations (IFSO) unit has made significant headway by dismantling an interstate syndicate involved in a major stock market fraud case, as confirmed by officials on Friday.

Authorities suggest that one of the detainees might have direct ties to Chinese cybercrime circles. This breakthrough emerged following a complaint from Ashok Kumar, alleging a fraudulent loss of Rs 64.75 lakh through a trading scam, wherein he was misled into transferring money across five different accounts for purported stock purchases promising substantial returns, according to DCP Hemant Tiwari.

Subsequent investigations by the IFSO unit revealed a complex network of mule accounts designed to obscure the financial trail, eventually leading to the arrest of two prime suspects. One accused, Vaddoriya Kewin Mukeshbhai, operating from Gujarat, and Abdul Barik from Roorkee, played crucial roles in setting up the digital infrastructure that enabled global fraudsters to siphon funds from Indian victims, demonstrating ties to wider international cyber operations.

(With inputs from agencies.)