New Delhi, August 11: The Shahdara Cyber Police in New Delhi has successfully dismantled a cybercrime gang involved in fraud under the guise of share trading and IPO investments. An accused from Odisha has been arrested in connection with this case. According to police reports, the suspect facilitated the transfer of funds obtained through fraudulent activities across various bank accounts.
Investigations revealed that approximately ₹2.97 crore was deposited into one of his bank accounts within just two months. This account was linked to 17 registered cyber fraud cases across the country.
This operation was conducted under e-FIR number 75/2026, filed on April 1, 2026, under Section 318(4) of the Indian Penal Code (IPC), following a complaint by Ramchandra Yadav.
Police stated that the complainant was added to a WhatsApp group for investment opportunities. In this group, the fraudsters posed as stock market experts and investment advisors, enticing individuals with promises of high and guaranteed returns. They encouraged the complainant to invest in share trading and IPOs.
To gain the complainant’s trust, the scammers showcased fake profits on a fraudulent investment platform and app. Believing these claims, the complainant invested a total of ₹4.75 lakh via UPI and net banking. When he attempted to withdraw his profits, he was asked to pay an additional ₹12 lakh in fees, leading him to realize he had been scammed and subsequently contact the police.
Inspector Shweta Sharma, along with ASI Rajdeep, Head Constables Javed, Narendra, and Deepak, and Constable Ranjit, was assigned to investigate the case. The team conducted a thorough examination of the financial transactions related to the scam.
The investigation revealed that approximately ₹3.75 lakh of the scammed money was transferred to a corporate account named Fusion Enterprises at the Central Bank of India. This account was registered in Bhubaneswar under the names Subrat Kumar Sahu and Santosh Kumar Lenka. Technical analysis indicated that the mobile number linked to the account was registered under Subrat Kumar Sahu.
Following technical surveillance and legal procedures, police arrested 33-year-old Subrat Kumar Sahu in Bhubaneswar. During questioning, he admitted to opening and operating multiple bank accounts for illegal financial transactions. He revealed that he was using around seven bank accounts, including both corporate and savings accounts.
Police also recovered communications related to bank accounts and financial transactions with co-accused from Sahu’s mobile phone. He further disclosed that the SIM card associated with the bank account had been discarded later.
The investigation showed that ₹2,97,33,000 was deposited into the account over a two-month period. Investigators also learned that Sahu and his associate Lenka had traveled by air to Guwahati in connection with activities related to this account.
According to police, this account is linked to 17 cyber fraud complaints registered in various parts of the country, indicating its potential involvement in multiple online scam cases.
Delhi police reported that the fraudsters targeted individuals through WhatsApp groups, Telegram channels, and social media platforms. Initially, they encouraged people to invest small amounts and displayed fake profits through a fraudulent app. In some instances, they even allowed small withdrawals to build trust.
Once the victims were convinced, they were urged to invest larger sums. Later, when they attempted to withdraw their funds, they were asked for additional payments under various pretenses, such as taxes, verification fees, compliance charges, or processing fees. After collecting substantial amounts, the accused would sever all contact.
Police have seized a mobile phone and SIM card from the accused. They are currently working to identify other gang members, the entire financial network, and other bank accounts involved in the cyber fraud.
Delhi police have advised the public to exercise caution when investing through WhatsApp groups, Telegram channels, social media platforms, or unfamiliar investment apps, and to avoid falling for enticing offers.
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