New Delhi, March 24 (NationPress) In a significant operation against cybercrime, the Delhi Police apprehended 11 suspects on Tuesday, who were part of a sophisticated investment fraud network active in both Delhi and Mumbai. These individuals are accused of defrauding a senior citizen out of Rs 22.67 lakh by enticing him with promises of substantial investment returns.

Officials from the Cyber Police Station in the South-West District reported that the arrests resulted in the recovery of a vast array of incriminating evidence, including 40 mobile devices, 92 counterfeit SIM cards, 39 passbooks and chequebooks, 27 ATM cards, four PAN cards, a laptop, a desktop computer, two POS machines, six UPI scanners, a printer, along with numerous fake documents utilized for establishing fraudulent bank accounts.

The case was initiated on November 21, 2025, under e-FIR No. 0079/2025, following a complaint from a 60-year-old man named A. Srinivasan. He claimed to have fallen victim to an investment scam that originated from a Facebook advertisement, which misused a speech by the Finance Minister. This advertisement promoted AI-driven trading and directed users to a registration link.

Upon registering, the complainant was approached by individuals posing as investment advisors through phone calls and WhatsApp messages. They convinced him to invest money via platforms such as the Mudraone App and another online site. The victim was instructed to transfer funds to a company named Kreoviah Technology Pvt. Ltd. After receiving the funds, the fraudsters cut off all communication and blocked him, leading to a total loss of Rs 22.67 lakh.

In light of the gravity of the crime, a dedicated investigation team was established, overseen by senior officials. The team utilized advanced methods, including analyzing money trails, reviewing call data records, employing technical surveillance, and tracking digital footprints.

The investigation uncovered a syndicate operating from Rohini and Netaji Subhash Place in Delhi, where fake bank accounts were created and managed. Raids at these sites led to the arrest of five suspects and the confiscation of numerous devices and documents related to the fraudulent scheme.

During questioning, the suspects revealed that they facilitated front offices for opening mule bank accounts, while backend operations were managed from another Rohini location. These accounts were then used by other members of the network to process illicit funds.

Further inquiries revealed the involvement of another syndicate in Mumbai. The embezzled funds were traced through multiple layers before being deposited into a bank account in Goregaon East. Additional raids in Rajasthan's Bijai Nagar led to the capture of four more suspects who had relocated to Mumbai to continue the operation.

The police disclosed that the suspects were aiding mule accounts for cybercriminals reportedly based in Cambodia, who targeted Indian citizens through investment frauds.

Two more individuals were apprehended for their role in managing these fraudulent accounts. Authorities confirmed that the investigation is ongoing to identify additional participants and locate more victims.