Three held over stock investment fraud that duped Delhi shop owner of Rs 17 lakh

The Delhi Police has arrested three men and bound down a woman over alleged links to a cyber fraud module that cheated a grocery shop owner in northwest Delhi of Rs 17 lakh on the pretext of stock market investments, an official said on Tuesday.

The arrests were made in connection with an online fraud case registered in January. The accused have been identified as Inderjeet (38), Pawan Kumar (38) and Gaurav Tyagi (25). A woman, Mahima Sharma (24), was bound down (to join investigation whenever called).

According to the police, the case came to light after Yogesh Kumar (43), who runs a grocery shop in Shalimar Bagh, lodged a complaint alleging that he was added to a social media group where fraudsters lured him with promises of high returns in stock market investments.

He was provided a registration link and directed to transfer money into multiple bank accounts.

“In this manner, he invested around Rs 17.10 lakh. When he attempted to withdraw the amount, he was asked to deposit additional money, which raised suspicion. He then approached the police,” the officer said.

An e-FIR was registered on January 18 and investigation was taken up.

During the probe, police conducted a detailed financial analysis of the money trail and found that the cheated amount was allegedly routed through a ‘mule’ bank account linked to a firm operated by Inderjeet, the officer said.

The transaction pattern showed high-value credits followed by immediate diversion of funds through gaming applications and other digital platforms to conceal the trail, he added.

“Inderjeet had deliberately provided his firm’s current bank account to a cyber fraud syndicate on commission basis. Pawan allegedly acted as a mediator in arranging bank accounts, while Gaurav assisted in coordination and operational handling. The role of the woman is under investigation,” the officer said.

Three mobile phones allegedly used in the crime have been recovered from the accused, police said, adding that further investigation is underway.