The Inter-State Cell (ISC) of the Crime Branch, Delhi Police has arrested four individuals involved in a large-scale online investment scam. The accused are identified as Rishu Garg, Amit Giri, Deepak Joon alias Vikas, and Sunil Kumar alias Yash. Additionally, Renu Garg has been bound under the relevant legal provisions.
The case came to light after a victim reported being cheated of Rs 45,25,100 under the pretext of investing in the stock market with promises of unusually high returns. The accused contacted the complainant via Twitter (X) and WhatsApp groups, convincing him to install a fake trading application. Over about a month, the victim transferred funds in 15 transactions to eight different bank accounts. When the victim tried to withdraw the money, the WhatsApp group and Twitter accounts went inactive, and the app stopped functioning.
Investigators traced Rs 4,00,000 of the defrauded funds to the bank account of Renu Garg in Zirakpur, Punjab. Technical surveillance and financial trail analysis revealed that her son, Rishu Garg, had operated the account in coordination with Deepak Joon (Vikas) for commissions. Amit Giri facilitated the arrangement of the account, while Sunil Kumar (Yash) coordinated with a handler named “Max” via Telegram to manage mule accounts and OTP-based activations.
Police seized mobile phones and SIM cards used in the crime. The syndicate operated across multiple states—Punjab, Rajasthan, Haryana, Uttar Pradesh, and Delhi—using fake WhatsApp groups, Twitter handles, and manipulated trading apps. The apps displayed fabricated profits and testimonials to lure victims, encouraging further investments. Once withdrawals were attempted, the accused terminated communication and disabled the application.
This multi-state online investment scam highlights the sophisticated use of technology and social engineering to defraud investors, emphasizing the need for vigilance while investing in digital trading platforms.
