New Delhi, Sep 4 (PTI) The Delhi Police has busted an alleged interstate cyber fraud syndicate involved in cheating a man of Rs 30 lakh through fake online investment and trading schemes, arresting a key handler, an official said on Friday.
The interrogation of the accused, Udit Tyagi (26), a resident of Meerut, has exposed a multi-layered network involving foreign operators, online messaging application-based handlers, mule bank account providers and cryptocurrency dealers.
He was apprehended by the Bureau of Immigration at Jaipur International Airport following a lookout circular and subsequently arrested by the Delhi Police, police said.
The case was registered in November last year on the complaint of Gaurav Rustogi, who was allegedly induced to invest progressively larger amounts through groups, channels and fraudulent online investment and trading platforms, they said.
The victim was initially persuaded to make small investments, with the fraudulent platforms displaying fictitious profits and, in some instances, allowing small withdrawals to build confidence. He was subsequently induced to deposit larger amounts, police said.
When the victim sought to withdraw his money, the fraudsters allegedly demanded additional payments in the name of VIP membership, account upgradation, repair tasks, reputation enhancement, withdrawal charges, tax clearance and system maintenance. The demands continued, resulting in a total loss of around Rs 30.06 lakh, police said.
Investigation revealed that the fraud was not being operated by an isolated local group but through a multi-layered network, with foreign or Chinese operators allegedly responsible for developing fraudulent applications, websites and investment interfaces, officials said.
Online messaging application operators allegedly posed as financial advisers, investment experts, customer-care representatives and task managers, while WhatsApp was used to initially approach victims with offers of part-time jobs, easy earnings, investment opportunities and trading schemes.
A group named “HO30”, allegedly created and operated by accused Hakam Ali, was identified as one of the groups used to induce victims into the fraudulent investment scheme, police said.
The investigation also uncovered a network of more than 18 first-layer mule bank accounts through which the cheated money was routed and subsequently transferred through multiple accounts or withdrawn through ATMs, cheques and other banking channels.
Police said Rs 5 lakh of the cheated amount was traced to a bank account in the name of accused Monish. The account was allegedly arranged by Anish and operated by Akshit Sirohi. Internet banking IP log analysis indicated that although the account was in Monish’s name, it was being operated by Sirohi and Anish, they said.
A parallel USDT-based cryptocurrency settlement mechanism was also detected. According to police, Indian intermediaries arranged bank accounts for routing Indian currency against cryptocurrency transactions, with around 5,000-10,000 USDT being provided to foreign operators in some transactions. Account holders were allegedly paid commissions of 10-15 per cent.
“The investigation has brought to light a well-coordinated hierarchy comprising foreign operators, digital infrastructure developers, Telegram operators, Indian intermediaries, mule-account providers, cryptocurrency handlers and local coordinators,” an officer said.
Technical investigation involving online messaging application records, subscriber details, call detail records, IP data, internet banking logs, KYC documents, mobile devices and banking transactions helped police map the digital and financial links, officials said.
Preliminary analysis of National Cyber Crime Reporting Portal data and beneficiary accounts has also revealed linkages with more than 35 cyber crime complaints reported across different states. Verification of the complaints and their financial linkages is underway, police said.
Tyagi allegedly monitored mule accounts and coordinated financial transactions. Police said Rs 5 lakh transferred by the complainant was credited into a mule account connected with his operational network, and a mobile phone and cheque book pertaining to the account were recovered from him.
Police said Tyagi had fled to Thailand, Malaysia and later the UAE after his name emerged during the investigation and was eventually apprehended upon his arrival at Jaipur airport.
Other accused identified during the probe include Anish, 22, who allegedly procured and operated bank accounts; Akshit Sirohi, 22, who allegedly handled the cryptocurrency component; Hakam Ali, 25, who allegedly operated the WhatsApp group; and Monish, 22, who allegedly provided his Federal Bank account to the syndicate.
One accused, identified only by his pseudonymous name “AK”, is allegedly the main coordinator and principal beneficiary on the Indian side and remains absconding, police said.
Seven mobile phones, SIM cards, banking documents, digital evidence and electronic communication records have been recovered during the investigation. The seized devices are being examined for details of further groups, fraudulent applications, cryptocurrency wallets, foreign contacts and other associates, police said. PTI SSJ SSJ NB NB
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