NEW DELHI: Two men running a cyber fraud network with alleged links to Chinese nationals have been arrested for cheating a retired Army colonel of Rs 41.45 lakh through a fake digital gold trading scheme, Delhi Police said on Saturday.
The accused, Indra Kumar Sahani (36) and Rahim Khan (24), were operating out of Ahmedabad and used a sophisticated setup involving mule bank accounts , SIM cards, and cryptocurrency transfers to move the scammed money overseas.
Fake platform, big returns, and a Rs 31 lakh ‘tax’
The case came to light when the victim, a retired colonel from Vasant Kunj, approached police after realizing he had been conned. He was contacted on social media and lured into investing in a fake online trading platform that promised high returns on digital gold traded in dollars.
After an initial investment, his fake account showed rapid profits. Encouraged, he kept depositing money, eventually transferring Rs 41.45 lakh, believing his earnings had grown to Rs 1 crore. But when he tried to withdraw, the platform demanded another Rs 31.5 lakh as “taxes” before releasing the funds. That’s when he suspected fraud.
Network traced to Ahmedabad
Deputy Commissioner of Police (Southwest) Surendra Choudhary said Khan was in contact with Chinese handlers through a messaging app and coordinated with account holders from across India. These individuals were brought to hotel rooms in Ahmedabad, where Khan ran the fraud operation.
He would install specific apps on mobile devices linked to SIMs registered with the mule accounts. These apps gave foreign scammers remote access to carry out fund transfers, police said.
The fraud proceeds were converted into USDT (a cryptocurrency) and moved abroad, helping evade Indian enforcement agencies.
Two arrests, phones seized
Police traced the digital trail to Ahmedabad and conducted a raid at a hotel, arresting Sahani. Three smartphones with incriminating material were recovered. Based on his interrogation, Khan was arrested and two more phones were seized.
Police said Sahani initially opened a personal bank account but eventually opened nine current accounts and sold access to them to the racket in exchange for commission.
The arrests, police said, have helped expose a wider cyber fraud network with transnational links. An investigation is on to identify more victims and collaborators.
The accused, Indra Kumar Sahani (36) and Rahim Khan (24), were operating out of Ahmedabad and used a sophisticated setup involving mule bank accounts , SIM cards, and cryptocurrency transfers to move the scammed money overseas.
Fake platform, big returns, and a Rs 31 lakh ‘tax’
The case came to light when the victim, a retired colonel from Vasant Kunj, approached police after realizing he had been conned. He was contacted on social media and lured into investing in a fake online trading platform that promised high returns on digital gold traded in dollars.
After an initial investment, his fake account showed rapid profits. Encouraged, he kept depositing money, eventually transferring Rs 41.45 lakh, believing his earnings had grown to Rs 1 crore. But when he tried to withdraw, the platform demanded another Rs 31.5 lakh as “taxes” before releasing the funds. That’s when he suspected fraud.
Network traced to Ahmedabad
Deputy Commissioner of Police (Southwest) Surendra Choudhary said Khan was in contact with Chinese handlers through a messaging app and coordinated with account holders from across India. These individuals were brought to hotel rooms in Ahmedabad, where Khan ran the fraud operation.
He would install specific apps on mobile devices linked to SIMs registered with the mule accounts. These apps gave foreign scammers remote access to carry out fund transfers, police said.
The fraud proceeds were converted into USDT (a cryptocurrency) and moved abroad, helping evade Indian enforcement agencies.
Two arrests, phones seized
Police traced the digital trail to Ahmedabad and conducted a raid at a hotel, arresting Sahani. Three smartphones with incriminating material were recovered. Based on his interrogation, Khan was arrested and two more phones were seized.
Police said Sahani initially opened a personal bank account but eventually opened nine current accounts and sold access to them to the racket in exchange for commission.
The arrests, police said, have helped expose a wider cyber fraud network with transnational links. An investigation is on to identify more victims and collaborators.
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