The Cyber Police Station of Delhi’s South-West District has busted an alleged interstate online investment fraud syndicate with suspected links to foreign cyber operators using WhatsApp numbers traced to Cambodia, the police said on Wednesday.
Eight accused, including engineering graduates, MBA degree holders and individuals with cyber security qualifications, have been arrested in connection with the racket that allegedly duped victims through fake stock investment platforms and mule bank accounts spread across multiple states.
According to police, the fraud came to light after a complainant alleged that he was cheated of nearly Rs 24 lakh through an online stock market investment scheme. An e-FIR was registered on March 20, 2026, at Cyber Police Station, South-West District under relevant sections of the Bharatiya Nyaya Sanhita (BNS).
Investigators said the complainant had been added to a WhatsApp group where admins projected the investment scheme as highly profitable by sharing fabricated screenshots showing massive returns from stock trading. Trusting the claims, the complainant allegedly transferred around Rs 24 lakh into different bank accounts provided by the fraudsters.
However, when he later attempted to withdraw his money and profits, the accused allegedly kept demanding additional deposits on various pretexts. Realising he had fallen victim to a fake investment scam, the complainant approached the NCRP portal, following which the case was registered.
During investigation, the police carried out technical analysis of WhatsApp numbers, digital evidence and money trails. The probe revealed that the WhatsApp numbers used in the fraud were allegedly being operated from Cambodia, while the fraudulent investment website had already been deactivated after the offence.
The police said the cheated money was routed through multiple mule bank accounts opened in the names of shell firms across several states.
An amount of Rs 6.7 lakh was allegedly traced to a Yes Bank account of “New Journey Overseas Pvt. Ltd.” linked to accused Abhishek from Panipat in Haryana. The police alleged that Abhishek, along with Harmanjot Singh and Qaisar Masoodi from Mohali, supplied the bank account to cyber fraud operators. Raids in Mohali and Panipat led to their arrest and recovery of digital evidence and commission-sharing records.
Investigators further traced Rs 2.6 lakh to an Axis Bank account of “MZ Enterprises” linked to accused Md. Zahid and Amir Malik from Delhi’s Jafrabad area. During interrogation, the police claimed it surfaced that the account was being remotely operated from Rajasthan through APK-based remote access applications on the instructions of a person identified as Salman.
The police alleged that the arrangement allowed foreign cyber fraudsters to secretly control banking operations and move cheated money without directly exposing their identities.
The probe later uncovered another mule account linked to “Kanha Traders” connected to accused Amarjeet Ahirwar and Alok Sharma from Madhya Pradesh. After raids in the state, both were arrested.
During questioning, the duo allegedly disclosed the role of another accused, Anant Pandey of Rewa, Madhya Pradesh. The police claimed Pandey was in direct contact with foreign handlers through encrypted WhatsApp communication and acted as a conduit between Indian mule account suppliers and overseas cyber fraud syndicates linked to Cambodia.
Among those arrested are individuals with qualifications including B.Tech, MBA and a diploma in cyber security. The accused have been identified as Harmanjot Singh, Qaisar Masoodi, Abhishek, Mohammad Zahid, Amir Malik, Amarjeet Ahirwar, Alok Sharma and Anant Pandey.
Police teams conducted raids in Delhi, Haryana, Punjab and Madhya Pradesh during the operation.
The police said more than 60 NCRP complaints have already been linked to the mule accounts used by the syndicate. Transactions worth nearly Rs 4.5 crore routed through these accounts within just 14 days are currently under investigation.
The authorities said eight mobile phones, banking documents, commission-sharing records and other digital evidence related to the operation of mule accounts have been recovered from the accused.
Further investigation in the case is under way.
