Even after so many news articles, videos, and awareness people are getting trapped in online investment scams.
What do you think is the major reason?
The answer lies in the desire for quick profits. Unfortunately, many people trapped in these scams fail to realize that what seems like a “jackpot” to them is a well-designed trap by scammers.
Among many scams, some are exposed, while others remain hidden in the crowd. Among many other reported cases of investment scams, Delhi police successfully cracked the multi-crore scam and arrested 5 individuals found connected with the fraud.
One single complaint against this fraud finally helped resolve 68 other similar complaints registered nationwide.
The Delhi Police Sting Operation
The investigation was started when one of the residents of Sadhnagar reported a fraud of ₹19.27 lakh. In the report, she mentioned that the scammer trapped her in the promise of high returns.
Initially, the scammer convinced her to invest ₹1 lakh through an investment app, which turned out to be a clone. After seeing higher profits, she excitedly added ₹9 lakh more.
Later, the scammer presented a fake IPO, which led her to invest ₹10 lakhs more, driven by the greed for higher returns.
The scam was revealed when she tried to withdraw her money and received no response after reaching out to the scammer.
She then decided to take legal action and reported a case.
The Delhi Police then launched an investigation that led to the busting of this elaborate fraud syndicate. Using digital forensic methods, they tracked the scammers’ bank accounts, phone numbers, and IP addresses, uncovering the operation and arresting five key members involved.
The investigation revealed that the fund was channeled through fake accounts registered in the name of Mr. Ravit Kumar in Ludhiana. From there victims’ fund was circulated to the bank accounts of two fraudsters in Dubai; Amandeep Singh and Prabsimaran Singh.
These two fraudsters are also believed to have links with Chinese nationals in the operation.
The successful investigation operation of this case helped the police of other states in revealing and resolving 68 other complaints registered for a similar scam.
Key Takeaways from the Investigation:
- 5 Arrests: Police arrested 5 scammers, including tech experts who helped maintain fake platforms and coordinate the scam.
- Assets Seized: They also recovered, Laptops, phones, and fake financial records used as part of the operation.
- Crores of Rupees Siphoned: The syndicate had successfully defrauded victims of crores, making it one of the largest online scams uncovered by Delhi Police.
Conclusion
The Delhi Police’s successful crackdown on this online investment syndicate is a big win, but the fight against cyber fraud is far from over.
Scammers are constantly evolving, and so must we. Always stay informed, be cautious about where you invest your money, and remember: If something seems too good to be true, it probably is.
Have you encountered suspicious investment schemes or offers? Fill in your details in the form below and we will help you in reporting your case.
