New Delhi, April 13 (IANS) In a major crackdown on cyber-enabled financial crimes, the Delhi Police’s Crime Branch has busted an interstate investment fraud syndicate and arrested a key accused allegedly involved in siphoning off cheated funds, officials said on Monday.
The accused, identified as Jamsheed K., 33, a resident of Kerala’s Malappuram district, was apprehended for his role as a primary money handler in an organised cyber fraud racket that duped victims through fake investment schemes.
According to police, the case pertains to an online investment fraud reported by complainant Sandeep Kumar, who was lured through a Facebook message promoting a trading platform. He was subsequently added to a WhatsApp group where members persuaded him to download a trading application named “INDIAN NIVESH” and invest in the stock market with promises of high returns.
Believing the claims, the complainant transferred a total of Rs 45.9 lakh into eight different bank accounts as instructed by the fraudsters. The application later reflected a fictitious profit of around Rs 7 crore in his account. However, when he attempted to withdraw the amount, the request failed. He was then asked to deposit more money within a week to process the withdrawal, failing which his account would be blocked.
Soon after, his account was blocked and all communication from the fraudsters, including a woman identified as “Mrs Vaniya” and other group members, ceased.
During the investigation, police traced the money trail and found that Rs 10 lakh — the largest first-layer transaction — had been credited to a bank account linked to a firm named JFS Traders in Kerala. The account, held with a private bank branch in Malappuram, was found to have received multiple suspicious transactions, with funds being quickly transferred to other accounts, a pattern consistent with cyber fraud syndicates.
Further analysis revealed that the account was linked to over 21 cyber fraud complaints on the government’s Samanvaya portal, indicating its use in multiple fraudulent activities across states.
Acting on the leads, a special team was constituted under the supervision of senior Crime Branch officials. The team conducted technical and manual surveillance and tracked the accused to Kerala. He was eventually arrested from Kondotty on April 5 with the assistance of local police.
Police said Jamsheed had earlier worked as an auto driver and later travelled to Saudi Arabia, where he worked in a fish market in Jeddah. After returning to India, he started a fruit trading business with two associates. When the business failed to take off, they allegedly began renting their bank accounts to cyber criminals for commission and gradually became part of the fraud network.
An FIR (No. 43/25) has been registered under relevant provisions of the Bharatiya Nyaya Sanhita at the Crime Branch police station.
Officials said further investigation is underway to identify and apprehend other members of the interstate syndicate.
The Delhi Police said the arrest is expected to help unravel a larger cyber fraud ecosystem operating across multiple states and reiterated its commitment to tackling organised financial crimes.
–IANS
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