Delhi Police has busted a major international cyber fraud racket linked to over 2,000 complaints and frauds of over Rs. ₹300 crore, with the arrest of its alleged mastermind along with 10 others, an official said on Sunday.
The case came to light after a complaint was filed by a resident of Sultan city who claimed that he had been duped. ₹31.45 lakh after being lured into the investment scheme.
According to police, the victim was convinced to download a fake trading app and invest money with promises of high returns. However, when he tried to withdraw his winnings, the app stopped working and the accused became unavailable.
“An FIR was registered at the cyber police station in the northeast and later transferred to the crime branch for detailed investigation,” the officer said, PTI reported.
During the investigation, investigators uncovered a well-organized network operating in several states with connections to international cybercrime syndicates, particularly in Cambodia.
Police said: “We have so far identified more than 260 bank accounts linked to more than 100 shell companies used to funnel the proceeds of crime. The total number of complaints linked to the syndicate is 2,567.”
The main accused, Karan Kajaria, was arrested at the Kolkata airport on April 3 after a Look Out Circular was issued against him. He was subsequently taken to Delhi the next day for further investigation, Deputy Commissioner of Police (Crime) Aditya Gautam said.
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Details of the syndicate and the prime accused
Police said the syndicate operated by creating fake investment platforms and messaging groups to lure victims. It allegedly used brokered mule bank accounts and deployed malicious applications to obtain sensitive banking information, including OTPs.
The money withdrawn was routed through a complex web of bank accounts and shell companies to cover the trail, the report said.
“Kajaria, who is believed to be the master coordinator, maintained direct links with foreign operators and facilitated the movement of funds through cryptocurrency channels,” the DCP said.
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According to the DCP, Kajaria acted as a liaison between Indian agents and international cybercriminals and was also involved in negotiating mule accounts and sharing sensitive financial data through encrypted social media platforms.
Investigators further said that Kajaria frequently traveled abroad to build and maintain connections with overseas fraud networks and attempted to evade arrest by staying out of India.
Through technical surveillance, the police traced the operation to Kolkata, where several bank accounts and shell entities were found to be active. Kajaria was detained at the airport and taken into custody after returning to India.
During interrogation, he allegedly admitted his role in the syndicate. Police added that accounts linked to his network were linked to more than 2,500 complaints on the National Cybercrime and Fraud Reporting Portal amounting to around ₹300 million crowns.
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The probe found that the syndicate was active for the last four to five years and operated in many states.
As part of the raid, the police confiscated 48 mobile phones, 258 SIM cards, several ATM cards and check books, four laptops and numerous bank and KYC documents. Amount ₹19 million were also reportedly frozen.
Eleven accused have so far been arrested in connection with the case, police said, adding that further investigations are underway to identify other members of the network.
