Delhi Police Busted International Investment Fraud Syndicate with Dubai, Philippines Ties; 5 Arrested

 

n a significant achievement, the Central District Cyber Police Station has successfully dismantled an international cyber fraud syndicate that lured unsuspecting victims with promises of lucrative investment returns. This nefarious group operated by establishing counterfeit businesses and fictitious bank accounts, all part of an elaborate scheme to launder their ill-gotten gains. This operation culminated in the apprehension of five culprits and the freezing of over Rs. 1.25 crores in their illicitly obtained bank holdings.

The Victim's Tale of Deception

The trail of this investigation began when Ashish Agrrawal lodged a complaint on the National Cyber-Crime Portal on June 2, 2023. Agrrawal's ordeal began in May 2023 when he received an enticing message on WhatsApp, urging him to invest in a Telegram app scheme promising astronomical returns. Initially, he invested a modest sum of Rs. 1000, enticed by the allure of a Rs. 1100 return. Witnessing initial gains, he continued to pour more capital into the scheme. Tragically, the swindlers later reneged on their promises and, under the pretense of returning his principal amount, persuaded him to invest even more. Consequently, Agrrawal found himself ensnared in a cyber scam, suffering a staggering loss of approximately Rs. 30 lakhs.

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Cracking the Case

Following a preliminary inquiry, an FIR was registered on June 3, 2023, at the Cyber Police Station, Central District, under sections 420/120B of the IPC. The investigative team meticulously gathered bank account particulars and Call Detail Records (CDRs) linked to the accused. The inquiry unveiled a complex web of transactions as the ill-gotten funds had been dispersed among 25 bank accounts spanning various banks and cities. Most notably, a current bank account under the alias "AIRSKY" was traced to Yes Bank, supposedly associated with a fictitious company, registered at a phony address in Nangalraya, Delhi, later revealed to be a rented space under the name of one Suhel Akram.

Further scrutiny unearthed the existence of 11 counterfeit companies registered at this address, with different individuals listed as directors.

The Unraveling of the Operation

On September 18, 2023, acting on specific intelligence, the police apprehended Suhel Akram and his accomplice Gaurav Sharma in Malviya Nagar, Delhi. A search of their possessions yielded a cache of counterfeit stamps, falsified bank account details, and deceptive debit cards. Subsequently, both confessed to their crimes and were taken into custody in accordance with due legal procedures.

Modus Operandi Unveiled: Cybercrime Network Busted!

In a recent interrogation, the accused masterminds spilled the beans on their intricate modus operandi. Their cunning scheme revolved around renting premises to establish shell companies, complete with forged documents. These pseudo-enterprises were then utilized as fronts to open current bank accounts in several banks, with a keen focus on Yes Bank and RBL Bank. To lend an air of authenticity to their operations, Balram, a close associate of Suhel Akram, recruited individuals to act as nominees or directors for these fraudulent entities.

Suhel Akram, the central figure, revealed a crucial link in their nefarious web. He provided the fake account details to Vivek Kumar Singh, a resident of Gurugram, Haryana, who maintained connections with counterparts in Dubai and the Philippines. It became apparent that this cybercrime operation extended its sinister reach internationally, with foreign nationals being implicated in various online betting, gaming, and investment schemes.

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The Arrested Individuals:

1. Vivek Kumar Singh (33 years)

2. Manish Kumar (23 years)

3. Suhel Akram, also known as Syed Ahamad (32 years)

4. Gaurav Sharma (23 years)

5. Balram (32 years)

Significant Recoveries: Law enforcement made substantial seizures tied to the accused individuals, which included 25 mobile phones, 31 SIM cards, numerous PAN cards, debit cards, Aadhar cards, passbooks, and chequebooks. Additionally, a Honda City car and various household items were traced back to their ill-gotten gains.

Total Transactions and Ongoing Investigation: The combined transactions within the bank accounts of the accused astonishingly exceeded Rs. 125 crores. Notably, over Rs. 1.25 crores have been frozen in these accounts. The investigation remains active, with determined efforts to apprehend other individuals entrenched within this sprawling network of cyber fraudsters.

This remarkable breakthrough by the Central District Cyber Police underscores the critical importance of vigilance and awareness in an era where cybercrimes constantly mutate and adapt. It serves as a stark warning to potential victims, urging them to exercise due diligence and verify the legitimacy of online investment schemes. Stay cautious, stay safe!

Source: https://www.the420.in/delhi-police-busts-cyber-fraud-syndicate-dubai-philippines-arrests-5/