Delhi Police Bust Multi-State Cyber Investment Fraud, Uncover ₹24 Crore Money Trail

Delhi Police Uncover Multi-State Cyber Investment Fraud Involving ₹24 Crore Money Trail

While investigating a case involving the loss of ₹30 lakh to an online investment scam, the Delhi Police Crime Branch uncovered a well-organised cybercrime syndicate operating through fake WhatsApp groups, bogus trading applications, and a network of mule bank accounts. The investigation revealed a money trail of approximately ₹24 crore, circulated across multiple accounts.

The police have busted two major online investment fraud rackets and arrested four accused — Rajiv, Monu Kumar, Mohit, and Rajbir Singh — who allegedly facilitated the fraud by providing bank accounts to cybercriminals. Victims were persuaded to install fake investment applications with promises of high and assured returns.

According to officials, the syndicate operated across several states, cheating victims of over ₹78 lakh while laundering funds amounting to ₹24 crore.

“The investigation has exposed a highly organised cyber fraud network using fake stock trading WhatsApp groups, fraudulent mobile applications, and layered mule bank accounts opened through local agents on commission,” said DCP (Crime Branch) Aditya Gautam.

First Case: Fake App ‘Cventura’

In the first case, the complainant was allegedly cheated of ₹31.45 lakh after being added to a fraudulent WhatsApp investment group. He was persuaded to download a fake application named ‘Cventura’, following which he transferred money into six different bank accounts.

When the victim demanded returns, the WhatsApp group disappeared, and the application stopped functioning. The case was subsequently registered and transferred to the Crime Branch.

Investigators found that the cheated amount was routed through multiple mule accounts to conceal the trail. Raids conducted in Ludhiana and Khanna (Punjab) led to the arrest of Rajiv and Monu Kumar.

• Rajiv was identified as a mule account holder, with ₹6.45 lakh credited directly into his account and total transactions exceeding ₹1 crore before the account was deactivated.

• Monu Kumar allegedly acted as a facilitator, luring individuals to open bank accounts and selling them to cyber fraudsters in exchange for commission.

Second Case: ‘VIP 10 Stock Sharing Group’ and Fake App ‘Verger’

In the second case, the complainant joined a WhatsApp group titled ‘VIP 10 Stock Sharing Group’ in July. He was induced to invest through another fake trading application, ‘Verger’.

The victim transferred ₹47.15 lakh through multiple transactions into nine bank accounts. Soon after, the WhatsApp group and application were abruptly shut down.

Raids conducted in Hisar and Panchkula (Haryana) led to the arrest of Mohit, who allegedly opened a bank account in his wife’s name and shared the details with his associate.

“Transactions worth nearly ₹3 crore were conducted through his account within 12 days,” Gautam said.

Further investigation resulted in the arrest of Balwan from Churu, Rajasthan, who arranged bank accounts on commission, and Rajbir Singh, through whose account transactions of around ₹20 crore were carried out within just three days.

Seizures and Ongoing Investigation

Police have seized mobile phones, SIM cards, ATM cards, cheque books, and bank documents. Efforts are ongoing to trace the end beneficiaries, identify additional victims, and arrest absconding accused linked to the cyber fraud network.

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