New Delhi, Feb 15: The Inter-State Cell (ISC) of the Crime Branch, Delhi Police, has arrested four persons involved in a large-scale online investment fraud, officials said.
The arrested accused have been identified as Rishu Garg, Amit Giri, Deepak Joon alias Vikas, and Sunil Kumar alias Yash, officials said.
Additionally, Renu Garg has been bound under the relevant legal provisions.
A complaint was received from a victim who was cheated of Rs 45,25,100 on the pretext of investing in the stock market with promises of exceptionally high returns. The accused contacted the complainant through Twitter (X) and WhatsApp groups and persuaded him to install a fake trading application on his mobile phone.
Over a period of about one month, the victim was induced to transfer money through 15 transactions into eight different bank accounts. When the victim attempted to withdraw his invested amount and the promised profits, the WhatsApp group and Twitter account became inactive, and the trading application stopped functioning.
Accordingly, a case was filed under Sections 318(4)/319/61(2)/3(5) BNS was registered.
A thorough investigation was initiated. Bank account details and statements were obtained from the concerned banks, which revealed that the defrauded money had been routed through various mule (fake) accounts and layered before being siphoned off.
During the investigation, it was found that Rs 4,00,000 out of the cheated amount had been credited to the bank account of Renu Garg, a resident of Zirakpur, Punjab. Based on technical surveillance, financial trail analysis, and criminal intelligence, raids were conducted in Punjab, Rajasthan, Haryana, Uttar Pradesh, and Delhi.
During questioning, Renu Garg disclosed that the bank account was being operated by her son, Rishu Garg. Rishu Garg was arrested after this.
During interrogation, Rishu Garg revealed that during September-October 2025, he had provided the net banking ID and password of the account to Vikas in exchange for Rs 25,000 and had increased the transaction limit of the account to Rs 1 crore.
Further investigation led to the arrest of Amit alias Rahul, who admitted to facilitating the arrangement of the bank account and receiving commission. A fake SIM card used for communication was recovered. Deepak Joon, alias Vikas, was arrested from Connaught Place, Delhi, along with the recovery of his mobile phone and another fake SIM card. Sunil, alias Yash, was arrested in Greater Noida. He disclosed that he was in contact with a handler named "Max" via Telegram, who arranged mule accounts, logistics, and OTP-based activation of linked services.
Mobile phones and SIM cards used in the commission of the crime have been seized during the investigation.
The syndicate operated by creating a network of associates across multiple states to procure mule bank accounts in exchange for commission. They obtained SIM cards linked to these accounts to maintain full operational control.
The accused created fake WhatsApp groups and Twitter handles to offer stock market tips. They circulated fabricated screenshots of large profits and testimonials to lure victims into installing bogus trading applications on their mobile phones. Manipulated balances and fictitious gains were displayed in the app to encourage higher investments. Once the victim attempted to withdraw funds, the accused terminated communication and turned off the application.
(ANI)
