In a significant breakthrough, the Delhi Police have arrested three individuals who were involved in an elaborate investment scam that duped a man of Rs23.90 lakh. The scammers used fake investment schemes, promising high returns, and eventually swindled the victim after convincing him to transfer money into multiple fraudulent accounts.
The scam came to light after Ankit, the victim, filed a complaint through the National Cyber Crime Reporting Portal (NCRP). According to his complaint, he was contacted by a man who promised substantial profits for investing in a supposed company. Believing the offer, Ankit transferred Rs23.90 lakh into various accounts provided by the scammers, only to lose all his money.
The case was handed over to the Outer North District Police under Deputy Commissioner of Police (DCP) Nidhin Valsan, who swiftly formed a team led by SHO Raman Kumar Singh from the Cyber Police Station. The investigation traced the criminals to Vadnagar, Gujarat, where they were attending the opening of a garment shop.
Following continuous raids in Gujarat, police apprehended two of the cyber criminals, Karan Dabhi (23) and Ankit Dabhi (22), in Kheralu village, Vadnagar. The police also recovered two mobile phones containing vital evidence linking the duo to the scam. It was revealed that the defrauded money had been used to purchase stock for a readymade garment store, which was being inaugurated in the name of the deceased wife of the gang’s ringleader, Prakash.
Another accused, Suresh Thakor (26), was arrested earlier and has been in judicial custody since September 2024. Suresh played a key role as a middleman, arranging fake accounts and withdrawing money from ATMs on behalf of the ringleader, Prakash.
The scammers targeted individuals through phone calls, promising high returns on investments in various commodities. Once a victim showed interest, the criminals directed them to open a Demat account and transferred the call to another accomplice, who instructed them to transfer money to fraudulent accounts. The scam was carefully orchestrated, with the criminals using fake SIM cards and accounts belonging to laborers to carry out the transactions.
The victims, believing in the legitimacy of the scheme due to the initial small returns and the professionalism of the operation, were eventually tricked into transferring large sums, all of which were lost.
The arrested Ankit Dabhi is the younger brother of Prakash, the alleged kingpin of the operation. Interestingly, Prakash’s father is an employee of the Vadnagar Police Station in Gujarat, where he serves as a Gram Rakshak Dal (GRD) Assistant. This connection was reportedly used by the accused to further legitimize their fraudulent activities.
The police are currently investigating the full extent of the scam and have already recovered part of the stolen money. Further investigations are ongoing, with the authorities looking to identify and apprehend additional members of the gang.