Two men were arrested in South Delhi for allegedly defrauding a retired Border Security Force (BSF) officer of over Rs 24 lakh by luring him with promises of high returns on investments, police said on Wednesday.
The accused were identified as Neeraj Verma (33) and Ravi Verma (30), both residents of Faridabad in Haryana.
According to Deputy Commissioner of Police (South) Ankit Chauhan, the retired BSF inspector from Pushp Vihar filed an online complaint on August 9, 2024, claiming he was cheated out of Rs 24,54,216 by unknown individuals who promised substantial profits from block trades, initial public offerings (IPOs), and share market investments.
The police initiated an investigation, and during the probe, it was discovered that the accused contacted the victim through Voice over Internet Protocol (VoIP) calls. An analysis of the money trail led authorities to identify the account where the funds were transferred. The account was registered under the name ‘Naitik Traders’ and was linked to Ravi Verma.
Ravi was arrested from Ballabhgarh, Haryana, following technical surveillance. Based on his disclosures, Neeraj Verma, his associate, was also arrested. Authorities recovered two mobile phones, a cheque book, and three bank kits that were allegedly used in the crime.
Neeraj, who completed only up to Class 10, told the police that he came across a social media advertisement promoting income through corporate accounts for gaming-related transactions. He then reached out to Ravi and received further instructions from a handler based in Mumbai. Following these instructions, Neeraj obtained GST and Udyam registrations, and opened multiple bank accounts under a fake business.
Neeraj invested Rs 1 lakh to open these accounts and shared the details with the handler, who allegedly used them to carry out cyber frauds. Neeraj reportedly earned a 2% commission on these transactions, which he shared with Ravi.
The transactions primarily involved buying and selling USDT cryptocurrency on a platform, the police added.
The investigation is ongoing as authorities work to identify additional associates and trace the handler behind the scam.
