Aligarh: Aligarh cyber police are preparing to seek a purple notice from Interpol to gather more information about a Hong Kong-based syndicate that has allegedly cheated 1.5 lakh Indians of thousands of crores through fake stock market and cryptocurrency investment schemes.
The sprawling network, which investigators describe as one of India’s largest cyber investment frauds, was uncovered on 31 January after retired government official Dinesh Kumar Sharma filed a complaint at Aligarh’s cybercrime police station. Sharma reported losing Rs 1.1 crore over 45 days to fraudsters who posed as investment advisers.
Superintendent of Police (Rural) Amrut Jain told ThePrint Monday that five special investigation teams conducted coordinated raids across Uttar Pradesh, Odisha, Uttarakhand, Chhattisgarh, Haryana and Rajasthan earlier this month, arresting 12 suspected gang members based on interrogation and digital evidence.
Police are now tracing the money trail and have identified one of the masterminds–a Noida resident who is currently undergoing cancer treatment, Jain said.
The SP said the mastermind was operating the gang from a hospital and remains under strict vigilance as the investigation is ongoing. He is yet to be arrested.
Since the complaint, investigators found that the gang operated more than 600 WhatsApp groups allegedly used to target online users across the country.
The gang members promised over 200 percent profits in investments, and initially showed small returns to gain their target’s trust, police said, adding that the amassed amount was then routed to Hong Kong through multiple bank accounts, fake companies and hawala channels.
According to police sources, the network has cheated Indians of over Rs 1,500 crore and was in the process of collecting another Rs 1,200 crore when its operations were busted.
On the cyber police’s request, all suspicious WhatsApp groups have been shut down and bank accounts frozen. Police have also confiscated dozens of mobile phones, laptops, SIM cards, passbooks and documents, which have been sent for forensic analysis.
The SP said that once the IP address location is confirmed to be in Hong Kong and digital evidence is examined, they will urge Interpol to issue a purple notice to trace gang members operating beyond Indian borders.
A purple notice is sought to seek or provide information on modus operandi, devices and concealment methods allegedly used by criminals.
Within the country, the SP said, more arrests are expected as investigators continue to identify remaining gang members.
Jain said analysis of previous cases had revealed that such gangs predominantly target retired officials and senior citizens, with many cyberfraud cases occurring within one year of retirement. Police are planning an awareness campaign among recently retired government employees by obtaining their names from the state treasury and banks.
(Edited by Prerna Madan)