Cybercrime Syndicate Busted for Rs 4 Crore Fraud in Delhi
Delhi Police have dismantled a cybercrime syndicate involved in defrauding over Rs 4 crore through fake investment schemes. The group, comprising five arrested individuals, utilized mule accounts to route funds and convert them into cryptocurrency. The case spans multiple Indian states and involves international handlers.
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In a significant breakthrough, the Delhi Police have dismantled a cybercrime syndicate responsible for defrauding over Rs 4 crore through counterfeit investment schemes. Five individuals were arrested, marking a crucial step in curbing such transnational frauds.
The arrested individuals, identified as Vikram, Mukul, Akshay, Hari Kishan Singh, and Mangu Singh, were operating a sophisticated investment fraud racket, promising high returns on stocks and IPOs. The syndicate funneled cheated funds through multiple mule accounts, eventually converting them into cryptocurrency before transferring these to wallets operated by handlers based in Cambodia.
After tracing Rs 4.25 crore in fraudulent transactions linked to the group's activities, police have connected at least 15 complaints from the National Cybercrime Reporting Portal to this syndicate. Authorities conducted raids across several states, ultimately leading to the bust of these operations and the uncovering of a transnational cybercrime module.
(With inputs from agencies.)
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