Delhi Police have busted an online investment scam worth ₹74 lakh and arrested two individuals allegedly involved in defrauding multiple victims through fake trading schemes, according to a report by ANI.
The accused reportedly lured victims via social media platforms, posing as financial advisors and promoting fraudulent investment opportunities in stock trading and initial public offerings (IPOs).
Victims were promised unusually high returns, a common tactic used in cyber-enabled financial frauds.
As per the ANI report, the scam came to light following complaints from victims who collectively lost over ₹74 lakh.
In one instance, a victim was duped of approximately ₹27.8 lakh, while another lost nearly ₹47 lakh after being persuaded to invest through fake online platforms.
Investigations revealed that the accused operated a network of bank accounts used to collect and transfer funds. One of the arrested individuals, a resident of Greater Noida, allegedly acted as a key facilitator by arranging mule bank accounts and coordinating transactions.
He was reportedly in contact with foreign handlers and received payments in cryptocurrency, including Tether (USDT), indicating possible cross-border links.
The second accused is believed to have provided his bank account for routing the defrauded funds, a practice commonly referred to as “money muling.”
Police officials stated that efforts are underway to trace additional suspects and recover the stolen funds.
Authorities are also analyzing digital evidence, including transaction trails and communication records, to uncover the broader network behind the operation.
The case highlights the growing prevalence of online investment scams in India, where fraudsters exploit digital platforms and emerging technologies to target unsuspecting investors.
