New Delhi: Six people were arrested for defrauding a real estate businessman of Rs 3.8 crore through a fraudulent stock market investment scheme. Police said the accused were part of a network that used fake investment platforms, advanced digital tools and multiple mule bank accounts to siphon off money. The syndicate was allegedly directed by cybercriminals operating from abroad. The complainant alleged that he was cheated of Rs 3.8 crore after being lured into an online stock market investment scheme, promising assured high returns. When no amounts were received, and the scheme turned out to be fraudulent, he approached the police. “The police team analysed bank accounts linked to the fraud and found that Rs 10 lakh was credited to a first-layer mule account held by one of the accused, Sablu Kumar, a resident of Navi Mumbai. Though initial searches in Mumbai failed, technical surveillance later traced him to Kota, Rajasthan, where he was arrested,” DCP (IFSO) Vinit Kumar said. Based on disclosures made by Kumar, police tracked another key accused, Wasim Ahmad, to south-east Delhi’s Jangpura. Ahmad was arrested along with three of his associates— Rajesh Khan, Sahid Ali and Mannu Issar. Interrogation and forensic examination of their mobile phones revealed details of several mule bank accounts being used to route cheated money. Another accused, Manish Kumar of Dwarka, Delhi, was also arrested. Police said he managed the inflow and outflow of fraud proceeds and supplied mule bank accounts for routing money generated through the scams. Analysis of his chats allegedly revealed links to multiple bank accounts against which at least 52 complaints were registered across several states.
