An IIT-certified ethical hacker, Girish Pandey, and his associate Anvesh Makkhan, a physics graduate, have been arrested in connection with a multi-layered cybercrime racket. The group allegedly deceived investors by posing as stock market advisors through fake Telegram and WhatsApp groups, promising high returns on IPO investments.
According to The Times of India, the duo defrauded victims of at least Rs 22 lakh, operating under instructions from a Cambodia-based cybercrime syndicate. Their tactics involved using shell companies, cooperative banks, and cryptocurrencies like USDT (Tether) to launder funds.
“These two worked as money mules, collecting the proceeds of fraud and sending them to Cambodia,” a senior police official stated.
The suspects used forged identities, dummy SIM cards, and encrypted communication to evade detection. However, cyber forensic analysis ultimately exposed their digital footprint.
Coordinated police operations across Delhi, Kanpur, Aligarh, and Uttarakhand led to the arrests of Pandey (31), Makkhan (32), and two others—Divyansh Chaudhary (34) and Avi Bansal (30). Authorities also identified Bird Technology Pvt Ltd as one of the fraudulent firms used in laundering money.
Investigators suspect that AI tools were used by the foreign syndicate to select victims and manipulate them using fake testimonials and profit screenshots. One Delhi-based complainant, who lost Rs 22 lakh, triggered the investigation.
The cyber fraud ring operated across multiple Indian states and is believed to involve Chinese and Cambodian nationals. Authorities are actively pursuing leads to apprehend other international members of the syndicate.
