New Delhi — The Delhi Police on Monday announced the arrest of three individuals allegedly involved in a large-scale foreign exchange trading scam with connections to Dubai. The arrests include a sales manager from a private bank, a mule-account provider, and a key handler with a prior history of cheating and forgery, officials said.

The accused have been identified as Anurag Kumar, who provided mule accounts; Zeeshan Syed, the bank sales manager; and Himanshu Gupta, a central coordinator who reportedly facilitated operations between the ground-level operatives and Dubai-based handlers. Investigators described the network as a sophisticated syndicate using shell companies and multiple accounts to launder money collected from victims.

Modus Operandi of the Syndicate

According to Delhi Police, the syndicate operated through social media groups where manipulated dashboards were used to display fictitious forex trading profits. Victims, misled by these fake returns, were repeatedly induced to deposit money into the system. These funds were then routed through a series of layered accounts under entities such as Rebootz Sync Professionals Pvt Ltd and ThinkSync Professionals Pvt Ltd.

“The entire banking kits of these companies, including ATM cards, cheque books, SIM cards linked to accounts, and net-banking credentials, were handed over to cybercriminals operating from Dubai,” said a senior police officer. A Dubai-based handler identified as Abdul, alias Vickey, is currently under investigation.

Roles of the Accused

• Anurag Kumar allegedly opened multiple mule accounts and transferred control to other syndicate members in exchange for ₹2 lakh.
• Zeeshan Syed, using his position as a sales manager at a private bank, reportedly facilitated fraudulent access to corporate accounts for ₹70,000.
• Himanshu Gupta is accused of coordinating between operatives in India and Dubai-based handlers, playing a central role in managing the scam’s operations.

The scam reportedly cheated at least one victim of nearly ₹40 lakh, though police suspect many more may have been targeted. The investigation is ongoing, with authorities seeking to trace the international flow of funds and identify additional members of the syndicate.

Arrests and Investigation

The three individuals were arrested in separate operations conducted in Delhi and Faridabad. The police have emphasized that the network’s sophisticated use of shell companies and mule accounts allowed the syndicate to evade immediate detection while transferring funds internationally.

Authorities have urged the public to remain cautious of social media investment schemes that promise high returns and to verify credentials before engaging in foreign exchange or trading operations.

The Delhi Police cybercrime unit continues to probe the case, coordinating with international agencies to track the Dubai-based operatives involved in orchestrating the scam.

The arrests highlight ongoing vulnerabilities in digital banking and forex trading platforms, as cybercriminals increasingly exploit social media and online networks to defraud unsuspecting investors.