The Delhi Police IFSO has arrested six individuals accused of running a large-scale fake investment scam that defrauded victims across India.
The scam came to light after Krishan Kumar, a real estate developer, joined a WhatsApp group sharing trading tips. He was contacted by a fraudster who created an account for him on a fake demat portal. Kumar was persuaded to transfer funds into the account, with regular screenshots showing fabricated profits. When he tried to withdraw, he was told he would incur fees, and the perpetrators stopped responding—revealing the scam.
DCP IFSO Vineet Kumar explained that the gang used fake investment platforms, encrypted messaging apps, and a network of mule bank accounts to siphon money. Funds were quickly moved through multiple accounts to erase traces.
Police investigations traced a Rs. 10 lakh transaction to a first-layer mule account owned by Sablu Kumar in Navi Mumbai. After initial searches, he was arrested in Kota, Rajasthan on January 9.
Wasim Ahmad was arrested on January 11 in Southeast Delhi, along with three associates—Rajesh Khan, Sahid Ali, and Mannu Issar. The sixth accused, Manish Kumar, was arrested on January 14 and was found to have played a key role in managing fund flows and supplying accounts for investment and digital arrest scams. WhatsApp chat analysis linked him to bank accounts connected to at least 52 cybercrime complaints across India.
