A dedicated team of the Inter-State Cell (ISC) of the Delhi Police Crime Branch has busted a multi-crore fake online trading network, arresting four key accused from Kolkata and Lucknow. The gang allegedly defrauded investors of over Rs 300 crore using fraudulent trading apps and social media platforms.
According to police, the syndicate lured victims with promises of high returns through fake trading applications and Telegram groups named “Ventura Securities,” “Go Market Global,” and “IPO Stock Trading.” Victims were shown manipulated trading dashboards displaying fictitious profits. Initial small gains encouraged them to invest larger amounts, after which additional charges like “activation fees” or taxes were demanded, leading to total financial loss.
The fake platforms closely resembled legitimate apps but were unregulated and unauthorized, and no legitimate broker operates solely via such unverified channels.
Investigations revealed that the gang procured mule bank accounts using fake KYC profiles, with mobile devices infected by apps that automatically shared OTPs, enabling unauthorized transactions. Data from the I4C platform and records from over 200 bank branches helped uncover a Kolkata-based syndicate that created shell companies to supply fraudulent bank accounts.
The arrested accused include:
Biswajit Mondal – Belgharia, Kolkata (arrested Dec 29, 2025)
Ashish – Kolkata (arrested Jan 1, 2026)
Rajibb Shah – Lucknow (arrested Jan 6, 2026)
Shubham Sharma – Kolkata
Police recovered mobile phones, laptops, cheque books, ATM cards, and SIM cards from the accused. Investigations revealed that Rajibb Shah coordinated with Cambodia-based operators handling cryptocurrency transactions, while the network spanned eastern Uttar Pradesh, Kolkata, and Bihar.
More than 260 bank accounts were opened under 105 fake companies, with 2,567 NCRP complaints registered from across India. The network had been operational for four to five years, using technical expertise and legal loopholes to evade detection.
Police continue to scrutinize the bank accounts, shell companies, and crypto links to identify additional beneficiaries and recover funds.
