New Delhi, April 9 (IANS) In a major crackdown on organised cyber investment frauds, the Delhi Police’s Crime Branch has arrested two key accused in separate cases involving cheated amounts exceeding Rs 74 lakh, officials said on Thursday.

According to police, the arrests have exposed a well-structured cyber fraud network involving mule bank accounts, foreign handlers, cryptocurrency transactions, and advanced digital tools used to evade law enforcement agencies.

In the first case, a key facilitator identified as Rahul Tyagi, a resident of UP’s Greater Noida, was arrested for his alleged involvement in a cyber investment fraud amounting to Rs 27.82 lakh.

The case was registered at the Cyber Cell of the West District based on a complaint received through the national cyber helpline 1930. The complainant was allegedly lured into a WhatsApp group offering lucrative investment opportunities in stock trading, IPOs and over-the-counter (OTC) platforms, and was subsequently duped into transferring Rs 27,82,422.

Police said the fraudsters circulated fake investment schemes through social media platforms and persuaded victims to transfer money into multiple-layered bank accounts. These accounts were reportedly procured on commission, while SIM cards linked to them were remotely controlled using APK-based message-forwarding applications. The accounts were used briefly and abandoned to avoid detection.

A special team comprising Inspector Vinay Kumar, SI Rakesh Malik and other officials was formed under the supervision of Inspector Sandeep Singh and the overall guidance of ACP Patil Swagat Rajkumar. Based on technical surveillance, financial trail analysis and field verification, Tyagi was apprehended from his residence.

During interrogation, Tyagi revealed that he had come in contact with foreign handlers through Telegram and, along with his associates, including Sanjay Shinde, arranged multiple bank accounts for fraudulent transactions. He disclosed that around 10–12 bank accounts were operated for China-based handlers. He initially received payments in cryptocurrency, specifically USDT through Binance, and later in cash, earning approximately Rs 14-15 lakh from the racket.

Police further revealed that Tyagi had previously been arrested by Mumbai Police in a related cyber fraud case involving the cheating of Rs 2.5 crore.

In the second case, the Cyber Cell of South-East Delhi arrested Rinku, 36, a resident of Greater Noida, in connection with a Rs 47 lakh investment fraud.

The case was registered on June 23, 2025, based on a complaint by Md. Waquar Azam, who alleged that he was cheated of Rs 47 lakh under the pretext of investment.

Investigation revealed that a total of nine bank accounts were used in the fraud, with Rs 4.40 lakh secured as a lien amount, out of which around Rs one lakh has been refunded to the complainant.

Police said Rinku acted as a mule account holder and had handed over the SIM linked to his firm’s current bank account to co-accused Sonu and another unidentified individual. Approximately Rs 31.45 lakh of the cheated amount was routed through his account before being layered and transferred further.

He also travelled to Agra and stayed in a hotel for two days to facilitate the operation, officials said.

Rinku was arrested from Greater Noida based on technical evidence and financial trail tracking. A mobile phone has been recovered from his possession.

Deputy Commissioner of Police, Crime Branch, Aditya Gautam, urged citizens to remain vigilant against unsolicited investment offers on platforms like WhatsApp and Telegram, and to immediately report suspicious activities on the helpline 1930.

Police said further investigation is underway to identify and apprehend other members of the cyber fraud network.

–IANS

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