The Cyber Crime Unit of the Delhi Police has dismantled a large-scale online investment fraud involving Rs22.7 lakh with the arrest of two accused, Sameer and Dev Singh, officials confirmed on Tuesday.
According to the police, the case revolves around a fake stock trading application that targeted victims through a WhatsApp group masquerading as a genuine stock market discussion forum. The complainant stated that on November 13, they were added to a group titled “Stan Chart Dialogue Forum L7,” which had five administrators discussing demat share investments.
One of the group administrators, identified as Yalini Guna, introduced an investment plan through a fraudulent application named “SCIIHNW.” The victim was persuaded to download the app via a shared link and was assured of profitable stock investments.
An e-FIR was registered under Sections 318(4) and 340 of the Bharatiya Nyaya Sanhita (BNS) at Cyber Police Station Shahdara, Delhi.
Initially, the complainant invested Rs2.7 lakh across 11 transactions. When an attempt was made to withdraw the funds, the accused imposed new conditions and pressured the victim to invest additional money. Eventually, the total investment reached Rs22.7 lakh, after which the victim was blocked from accessing the application.
Investigators traced the transaction trail through the NCRP portal and discovered that the funds were transferred to a Bank of Maharashtra account belonging to Sameer. Call Detail Record (CDR) analysis of the linked mobile number revealed the involvement of multiple suspicious phone numbers.
On November 10, a police team traveled to Hisar, Haryana, where Sameer and Dev Singh were identified and taken into custody. During interrogation, Sameer admitted to opening five to six bank accounts across different banks and handing them over to Dev Singh in exchange for Rs4,000 per account.
Police recovered two mobile phones and three SIM cards from the accused, which were seized following legal procedures. Both accused have since been sent to judicial custody as the investigation continues.
