A daring police operation in Delhi has shattered a sprawling fake online trading empire, arresting four suspects and recovering evidence of ₹300 crore in nationwide scams. The Crime Branch’s interstate cell traced the network’s tentacles from social media lures to offshore money trails.
Scammers deployed polished ads across platforms like Facebook and Instagram, dangling ‘guaranteed’ returns to reel in eager investors. Fake Telegram groups and custom apps created the illusion of a thriving brokerage, with dashboards faking profits to build confidence.
Small demo withdrawals greased the wheels for big bets. But cashing out? That meant endless fees, leaving victims penniless as funds flowed to 260 mule accounts tied to 105 ghost companies. No legitimate firm operates this way, experts note.
Inspector Satendra Khari’s team pored over transaction logs and KYC fakes from hundreds of banks. Arrests unfolded in Kolkata—Biswajit Mandal, Ashish Agarwal, Shubham Sharma—and Lucknow’s Rajib Shah. Devices seized held incriminating data, confessions unveiling Cambodia connections and crypto laundering.
Running 4-5 years strong, the gang thrived in Bihar, eastern UP, and beyond. Haul includes phones, SIMs, laptops, and ₹19 lakh frozen. With 2,500+ complaints flagged, the investigation expands, promising more takedowns in India’s cyber fraud wars.