Delhi Police Bust Interstate Cyber Fraud Syndicates, ₹300 Crore Online Trading Scam Exposed

Delhi Police Bust Two Interstate Cyber Fraud Syndicates, Arrest Eight Accused in ₹300 Crore Online Scam

New Delhi:
In a major breakthrough against organised cybercrime, the Delhi Police Crime Branch has successfully dismantled two interstate cyber fraud syndicates operating across multiple states, resulting in the arrest of eight accused involved in large-scale financial and online investment fraud.

Fake Online Trading Scam Uncovered

In the first case, the Crime Branch arrested Biswajit Mondal (32) and Ashish Aggarwal (35) from Kolkata, along with Rajibb Shah from Lucknow. Police also apprehended Shah’s associate, Shubham Sharma, from Kolkata. The accused were allegedly running a fake online trading platform, luring unsuspecting investors with promises of high and guaranteed returns, and defrauding them of more than ₹300 crore.

Extensive Multi-State Investigation

The syndicate was traced following a comprehensive analysis of 2,567 complaints registered on the National Cybercrime Reporting Portal (NCRP) from victims across several states. Investigators closely examined Indian Cyber Crime Coordination Centre (I4C) data, scrutinised bank KYC records from over 200 branches, and followed complex money trails linked to more than 260 bank accounts.

Further probe revealed that these accounts were opened in the names of 105 fictitious and shell companies, created solely to layer, transfer, and launder illicit funds, making detection difficult.

High-Tech Surveillance and Digital Evidence

According to DCP (Crime) Aditya Gautam, the breakthrough was achieved using advanced technical surveillance, call data record (CDR) analysis, and IP address tracking. These tools enabled police to identify fake company addresses, locate operational hubs, and map the digital footprint of the accused across multiple locations.

Major Seizures and Financial Action

During coordinated search operations, police seized:

• 39 mobile phones

• 258 SIM cards

• Four laptops

• ATM cards, cheque books, and banking documents

Additionally, authorities froze approximately ₹19 lakh across various bank accounts. Officials stated that the syndicate had been active for nearly five years, skillfully avoiding law enforcement by exploiting technical expertise, digital anonymity, and legal loopholes.

Another Cybercrime Network Busted

In a separate operation, the Delhi Police also dismantled another organised multi-state cybercrime network, further underlining the force’s intensified crackdown on cyber fraud and digital financial crimes. Detailed information regarding this case is expected to be released soon.

Growing Cyber Threat

The case highlights the rapid rise of cyber-enabled financial frauds in India and underscores the need for greater public awareness, robust digital verification, and inter-agency coordination to combat increasingly sophisticated cybercriminal networks.

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