The Delhi Police have dismantled a cyber fraud syndicate operating through a fraudulent stock trading mobile application and arrested two men from Haryana for allegedly cheating a Delhi-based woman of ₹22.7 lakh. Officials said the racket followed a familiar pattern of luring victims through online investment groups, showing fake profits, and then siphoning off large sums of money.

The arrests were made following an investigation initiated on the basis of a complaint filed by Dr Amita Garg on November 13. According to police, the case highlights the growing sophistication of cyber frauds linked to fake trading platforms and investment advisory groups operating on social media and messaging applications.

How the Fraud Began

According to the complaint, Dr Garg was added to a messaging app group named “Stan Chart Dialogue Forum L7.” The group projected itself as a discussion forum for stock market and D-mat investments, where administrators regularly shared tips and advice on share trading.

Deputy Commissioner of Police (DCP) Prashant Gautam said one of the group administrators, who introduced herself as “Yalini Guna,” gained the complainant’s confidence by offering guidance on profitable stock investments. She persuaded Dr Garg to invest through a mobile application and shared a link for downloading it.

Initially, the complainant invested around ₹2.7 lakh through multiple transactions. The application showed apparent profits on the invested amount, creating the impression that the investment was genuine and yielding returns.

Escalation of the Scam

When Dr Garg attempted to withdraw her money, she was allegedly told that additional investments were required to unlock or process the withdrawal. Under pressure from the fraudsters and reassured by the profits reflected on the app, she continued transferring money.

Over time, the total amount transferred by the complainant rose to ₹22.70 lakh. Shortly after making the final transactions, she was blocked from the application and cut off from all communication with the group administrators, prompting her to realise that she had been cheated.

Following the complaint, an e-FIR was registered under sections 318 and 340 of the Bharatiya Nyaya Sanhita, which deal with cheating and criminal acts involving deception.

Tracing the Money Trail

During the investigation, Delhi Police traced the flow of funds using the National Cybercrime Reporting Portal (NCRP). This led them to a bank account belonging to Sameer, a resident of Hisar district in Haryana.

Further analysis of call detail records helped investigators identify additional mobile numbers linked to the fraud. Based on these leads, a police team conducted raids in Hisar on November 10 and apprehended Sameer along with another accused, Dev Singh.

Admissions and Seizures

During interrogation, Sameer reportedly admitted that he had opened five to six bank accounts and handed them over to Dev Singh in exchange for ₹4,000 per account. These accounts were allegedly used by the cyber fraud syndicate to receive and route money cheated from victims.

Police seized two mobile phones and three SIM cards from the accused, which are believed to contain crucial evidence related to the operation of the fraud. Both Sameer and Dev Singh were produced before a court and have been sent to judicial custody.

Modus Operandi of the Syndicate

According to police officials, the accused followed a standard and increasingly common cyber fraud modus operandi. Victims are contacted through social media platforms or added to messaging app groups that pose as legitimate investment forums. Fraudsters then build trust by sharing market tips and displaying fake profits on manipulated applications or dashboards.

Once confidence is established, victims are encouraged to invest progressively larger amounts. When they attempt to withdraw funds, they are pressured into making additional payments under various pretexts, such as processing fees or minimum balance requirements. Eventually, communication is cut off and the money is siphoned away.

Ongoing Investigation

Delhi Police said further investigation is underway to identify other members of the cyber fraud syndicate and to trace the remaining proceeds of crime. Officials are also examining whether the racket is linked to similar complaints registered elsewhere and whether the accused were operating as part of a larger inter-state or international network.

Police have urged citizens to remain cautious while investing online and to verify the authenticity of trading applications and advisory groups. They have also advised people to report suspicious activity promptly through official cybercrime reporting channels to help authorities take swift action.