Delhi Police have arrested three men, including the alleged mastermind, for defrauding a businessman of Rs 39.5 lakh through a cryptocurrency investment scam. The accused have been identified as Krishan Kumar alias Monu (42) from Paharganj, Deepu (32) of Gopalpur, and Md Irfan Sheikh (31) from GTB Enclave.
The victim, a 47-year-old stationery shop owner from Mahendru Enclave, was lured into investing in cryptocurrency on a fraudulent platform promising high returns. Believing the scheme to be genuine, he transferred Rs 39.5 lakh to multiple bank accounts linked to the scam.
During the investigation, police tracked a primary mule account operated under “RS Management Services” in a private bank in Karol Bagh. This account had received Rs 10 lakh from the victim’s funds on February 17 and was connected to at least nine other complaints on the National Cybercrime Reporting Portal.
Krishan Kumar, who frequently changed residences and mobile numbers to avoid arrest, was apprehended on August 20 following technical surveillance and field intelligence. His associate Deepu, responsible for arranging mule accounts, was arrested the next day. Irfan monitored the account holders, while Arvind maintained links with cyber fraudsters funneling the money.
Arvind is currently in judicial custody in another cyber fraud case, while Irfan, with a prior arrest for a similar case, was also caught in Paharganj. The accused used layered transactions to move funds through multiple accounts, complicating detection.
A case has been registered, and police continue efforts to trace additional suspects and recover the defrauded amount.
