Cyber crooks running a multi-state fake trading scam have been brought down by Delhi Police, with four arrests exposing a ₹300 crore heist from gullible investors. The intricate fraud relied on deceptive apps, Telegram traps, and a fortress of fake accounts.
It all began with viral social media bait: ads hyping effortless riches from online trades. Recruited victims entered curated Telegram echo chambers and downloaded scam apps rigged to show soaring gains, fostering false security with minor mock payouts.
Larger sums followed, only to be trapped by fabricated withdrawal hurdles—taxes, charges, you name it. Money vanished into a labyrinth of 260+ bank accounts under 105 phantom firms, fueled by forged IDs and profiles.
Delhi Crime Branch dug deep, cross-referencing 200+ bank records to map the network. Kolkata sweeps netted key players like Biswajit Mandal, supplier of fake docs; Ashish Agarwal, tech handler; Shubham Sharma; and Lucknow’s Rajib Shah, who spilled on Cambodia bosses and crypto siphons.
Veteran for years, the outfit dodged law via tech prowess across regions. Trophies: dozens of devices, SIMs, frozen cash, banking docs. Linking 2,567 NCRB cases, cops signal an ongoing purge of this digital underworld.