The Delhi Police has arrested two men for allegedly duping people of over Rs 47 lakh in an online stock trading scam while working at the behest of a Chinese handler, an official said on Saturday.
The accused, identified as Sahil Yadav (25) and Aryan (22), both residents of Patna in Bihar, were apprehended following a probe into an FIR registered in June after a complainant reported being coerced into transferring Rs 47.23 lakh under fabricated threats, he said.
According to police, the victim was lured through a social media group that promoted stock trading schemes under the pretext of immediate buy, immediate sell and IPO rating traps.
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“He was made to invest over two months through a fraudulent website. When he tried to withdraw the money, the fraudsters allegedly resorted to intimidation and extorted more money,” said the police officer.
Probe revealed that Rs 31.45 lakh of the cheated amount was deposited in a private bank account in the name of a furniture and interiors account, out of which Rs 23.8 lakh was routed into another account belonging to another private firm, linked to the accused.
“The account was found to be a shell entity created to launder fraudulent transactions,” said the office.
Police said the duo had opened seven bank accounts for laundering.
Investigators also unearthed 89 NCRP complaints linked to the firm. The accused were allegedly operating from an office in Noida and were receiving instructions through a handler based in Uttam Nagar, who in turn was working for a China-based mastermind identified as Tom.
Aryan’s movements were tracked to Greater Noida, where a Crime Branch team disguised as locals conducted a raid and arrested both accused. They had been using forged documents and fake SIM cards to conceal their identity, police said.
During interrogation, the two disclosed that they were recruited in December 2024 through social media with a promise of Rs 30,000 commission for every Rs 1 crore routed through their accounts. Further investigation is underway to trace the syndicate’s international links, police added.
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