In a scam of online investment scam involving financial transactions worth 7.16 crore, Delhi Police has arrested four suspected cyber fraudsters, the officials said on Wednesday. The arrests were as a result of an online investment fraud case that was registered on November 3, where a victim based in Delhi was reported to have been defrauded of 27.2 lakh.
According to the Deputy Commissioner of Police Aditya Gautam, the accused were members of an organised cybercrime syndicate that was present in various states. The alleged scheme was that the group deposited money acquired in fraudulent online schemes into a system of mule bank accounts of high volumes to route and launder the money. The investigators have attributed the gang to over 300 complaints of cybercrime that have been reported on the National Cyber Crime Reporting Portal (NCRP) in various regions in the country.
A thorough financial audit by police, according to them, identified dubious transactions totaling ₹7.16 crore in relation to different NCRP complaints. This money trail suggested that it was a systematic operation to mislead victims and transfer money to various accounts as quickly as possible to evade the detection.
The complainant in the case with Delhi informed the police that he was first contacted by unknown people online and was later included in various fake investment groups. These groups showed him fabricated profit values to build trust on them and create a false impression of having a successful trading.
The accused, they said, then managed to convince the victim to install a counterfeit trading application called Conifer. By using this application, he was enticed to buy a counterfeit initial public offering (IPO) of a logistics firm. The victim trusted that the investing was genuine, and thus before he realised that he was not duped, he transferred huge amounts of money.
According to police, further investigation was being conducted to arrest other members of the syndicate, follow up other money trails as well as establish the magnitude of the operation.
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