Delhi Police's Cyber Police Station, Shahdara, has arrested a 33-year-old man from Bhubaneswar, Odisha, for allegedly facilitating the routing of stock trading and IPO investment fraud proceeds through multiple bank accounts. Investigators found that approximately ₹2.97 crore was credited into one suspect account within just two months, and the same account has been linked to 17 cyber fraud complaints registered across India.

How the Fraud Operated

The case originates from a complaint filed by Ram Chander Yadav, registered as e-FIR No. 75/2026 on 1 April 2026 under Section 318(4) of the Bharatiya Nyaya Sanhita (BNS) at Cyber Police Station, Shahdara. According to police, Yadav was added to a WhatsApp investment group named 'Bull Market Dhan Club H10608', where fraudsters posed as expert stock market traders and investment advisors.

The fraudsters lured him into investing in stock trading and Initial Public Offerings (IPOs) by promising high and assured returns. They displayed fabricated profits on counterfeit investment platforms to gain his trust. Believing the representations to be genuine, Yadav transferred a total of ₹4.75 lakh via UPI and net banking. When he attempted to withdraw his supposed profits, the fraudsters demanded an additional ₹12 lakh as processing and withdrawal charges — at which point he realised he had been deceived and approached the police.

The Financial Trail and Arrest

A dedicated investigation team — comprising Inspector Shweta Sharma, ASI Rajdeep, Head Constables Javed, Narender, and Deepak, and Constable Ranjeet — was constituted under the leadership of SHO Vijay Kumar and the supervision of ACP (Operations) Gurdev Singh.

Investigators traced approximately ₹3.75 lakh of the defrauded amount to a Central Bank of India corporate account held in the name of Fusion Enterprises, jointly maintained by Subrat Kumar Sahoo and Santosh Kumar Lenka, with a registered address in Bhubaneswar. Technical analysis of the mobile number linked to the account pointed to Sahoo.

Following sustained technical surveillance and legal procedures, police traced and arrested Sahoo, 33, from Bhubaneswar. During interrogation, he disclosed that he had opened and arranged approximately seven bank accounts — including corporate and savings accounts — allegedly used to route suspicious transactions. His mobile phone reportedly contained chats with co-accused persons regarding bank accounts and financial transfers. Investigators also found that Sahoo and co-accused Lenka had travelled to Guwahati by air in connection with activities linked to the account.

Scale of the Alleged Racket

A detailed analysis of the Fusion Enterprises account revealed that ₹2,97,33,000 (approximately ₹2.97 crore) had been credited into it over roughly two months. The account has been linked to 17 cyber fraud complaints in different parts of India, indicating its alleged use across multiple online fraud operations.

According to police, fraudsters targeted victims through WhatsApp groups, Telegram channels, and social media platforms, posing as stock market experts. Victims were initially encouraged to invest small amounts and were shown fabricated profits through fake investment applications. In some cases, small withdrawals were permitted to build confidence. Once victims invested larger sums and attempted to withdraw funds, they were asked to pay additional charges under pretexts such as taxes, verification fees, compliance charges, or withdrawal processing costs. The fraudsters then allegedly cut off all contact.

Recoveries and Next Steps

Police recovered a mobile phone and a SIM card from the accused. The SIM card linked to the bank account had reportedly been discarded by Sahoo prior to his arrest. Further investigation is underway to identify other members of the racket, trace the complete financial network, and uncover additional bank accounts allegedly used to route fraud proceeds.

Delhi Police has advised citizens to exercise caution when investing through WhatsApp groups, Telegram channels, social media platforms, or unknown investment applications. As the probe widens, arrests of additional accused — including co-accused Lenka — are expected.