New Delhi, March 28 (NationPress) – The Delhi Police has dismantled an investment fraud operation, resulting in the arrest of five suspects accused of managing a network of mule bank accounts linked to cybercriminal activities, according to officials on Saturday.

A specialized team from the Cyber Police Station in the South-West District apprehended the suspects: Shridhar Dilip Ingle (25), Archiryan Goraksh Kamble (21), Ajij Miran Shaikh (25), Pranav Jalinder Guldagad (24), and Vishal Durgadas Bachal (25).

Authorities recovered six mobile devices used in the commission of the crime, alongside information pertaining to 35 bank accounts involved in fraudulent activities.

The investigation began following a complaint filed on September 4, 2025, through the NCRP portal by a resident from Arunachal Pradesh living in Delhi. He reported being deceived into investing in the stock market by a fake company that went by the name of Next Billion Technology Pvt. Ltd.

As per officials, the victim opened an OTC account on July 7, 2025, after which he was approached by a woman named Parineeti Jain and her associates, using various phone numbers. They lured him with promises of substantial returns, convincing him to invest money.

Under their assurances, the victim transferred a total of Rs 12,22,670. It was only later that he realized the company was a scam, prompting the registration of a case at the Cyber Police Station in the South-West District.

A dedicated police team, comprising SI Sombir, HC Jitender, HC Sandeep, and HC Mayurpal, operated under the guidance of Inspector Pravesh Kaushik, the SHO of the Cyber Police Station, with overall oversight from ACP Sanghmitra.

During the inquiry, authorities executed technical analysis, surveillance, and scrutinized financial transactions. The evidence trail led investigators to suspects operating in Maharashtra.

Shridhar Dilip Ingle was pinpointed through technical surveillance, leading to a raid in Shrirampur, Maharashtra, where he was arrested.

Upon questioning, Ingle admitted to selling mule bank accounts on a commission basis to an associate known as Chaitanya, who is currently in Dubai. He also disclosed that his co-accused assisted him in acquiring such accounts from various individuals.

Subsequently, police carried out multiple searches at different sites, resulting in the capture of the other accused – Archiryan Goraksh Kamble, Ajij Miran Shaikh, Pranav Jalinder Guldagad, and Vishal Durgadas Bachal.

Intensive interrogation revealed that the suspects were engaged in sourcing and supplying mule bank accounts to cyber fraud networks in exchange for commissions.

These accounts were obtained from individuals and subsequently controlled or transferred for use in illicit financial transactions.

Authorities noted that the accounts were further disseminated to associates, including the Dubai-based contact, facilitating extensive cyber fraud operations. Preliminary investigations indicate that the accounts involved transactions amounting to several crores, with victims scattered across various states and Union Territories.