Did the Delhi Police Uncover a Major Multi-State Scam with Links to China?
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Synopsis
The Delhi Police have made a remarkable breakthrough in cyber crime, dismantling a multi-state scam syndicate with suspected Chinese connections. The arrest of key individuals involved in a massive fraud scheme has unveiled a network of shell companies and cryptocurrency transactions, raising serious concerns about cross-border financial crimes.
Key Takeaways
- Delhi Police have dismantled a major cyber fraud syndicate.
- Investigation revealed connections to multiple states and a fictitious company.
- Key arrests include individuals linked to the creation of fraudulent accounts.
- Significant amounts of money were laundered through cryptocurrency.
- Authorities highlight the need for vigilance against cyber fraud.
New Delhi, Dec 7 (NationPress) The Cyber Cell of the Delhi Police Crime Branch has successfully dismantled a significant cyber fraud syndicate that was operating across multiple states and had ties to cross-border financial networks, as reported by officials on Sunday.
This major breakthrough occurred during an investigation into an online investment scam where a 61-year-old individual was defrauded of Rs 33 lakh.
According to the police, the inquiry into E-FIR No. 00031/2025 revealed that the stolen funds had been laundered through numerous secondary beneficiary accounts associated with a shell company named Belcrest India Pvt. Ltd.
Technical surveillance helped pinpoint the key individuals behind this fraudulent enterprise -- Shivam Singh, who resides in Faizabad, Uttar Pradesh, and Lakshay, a resident of Delhi, according to the press release from the Delhi Police.
Investigators discovered that Rs 10.38 lakh of the defrauded money had been channeled through accounts linked to Belcrest.
Lakshay, arrested on November 19, admitted to establishing the fictitious company, creating bank accounts, and supplying bank kits and SIM cards to co-accused Shubham and others in exchange for a monthly fee of Rs 20,000.
A dedicated team led by Inspector Ashok, Sub Inspector Bhagyashri, and Head Constable Dinesh conducted several raids across the Delhi-NCR region to apprehend Shubham, who frequently switched SIM cards to evade capture.
He was ultimately arrested on December 6 in Tilak Nagar.
Authorities recovered a laptop, two mobile phones, five chequebooks, and six debit cards from him.
During the interrogation, Shubham revealed that he operated under a handler who provided various third and fourth-layer accounts belonging to shell companies, including CSP24Seven Technologies, Levin Fintech, EKO India, Rinova Pvt. Ltd., Money Wave Pvt. Ltd., Easy Mudra Pvt. Ltd., and Lavi Software & Technology Pvt. Ltd., as stated by the Delhi Police.
He further confessed to receiving USDT cryptocurrency from the handler and selling it to “Kool Pay”, a Chinese-affiliated entity thought to be integral to the laundering operation.
The police noted that the syndicate functioned by transferring funds from first-layer beneficiary accounts to Belcrest accounts, passing them through numerous shell companies, and converting the money into USDT before sending it back to Kool Pay, thus sustaining the cycle.
Authorities remarked that Shubham destroyed Belcrest chequebooks and disposed of the SIM card used for transactions upon learning of Lakshay’s arrest.
Point of View
This incident highlights the increasing sophistication of cyber fraud schemes that transcend borders. The collaboration between law enforcement agencies is crucial in combating such crimes, emphasizing the need for vigilance and updated regulations to protect the public from financial scams.
NationPress
07/12/2025
Frequently Asked Questions
What was the scam about?
The scam involved an online investment scheme where a 61-year-old man was defrauded of Rs 33 lakh, with funds laundered through shell companies.
Who were the key individuals arrested?
Key individuals arrested include Shivam Singh and Lakshay, who were linked to establishing the fraudulent company Belcrest India Pvt. Ltd.
What role did cryptocurrency play in the scam?
Cryptocurrency, specifically USDT, was used for laundering money through transactions with Kool Pay, a suspected Chinese-linked entity.
How did the police uncover the fraud?
The fraud was uncovered through technical surveillance and investigations into multiple beneficiary accounts linked to the fraudulent activities.
What actions did police take after the arrests?
Police conducted raids, seized various electronic devices, and are investigating further links to other shell companies involved in the scam.
