New Delhi, August 11, 2026 (Yes Punjab News)
Delhi Police have busted a pan-India cyber investment fraud and mule bank account network, arresting nine people from Kerala, Maharashtra, Gujarat and Punjab. Investigators have linked the syndicate to 34 complaints on the National Cyber Crime Reporting Portal (NCRP) involving fraudulent transactions of more than Rs 15.71 crore.
The Cyber Police Station of South-West District uncovered the network while investigating a complaint from a Palam Colony resident who was allegedly lured through WhatsApp groups posing as investment learning platforms.
According to police, the suspects impersonated market analysts and investment professionals, conducted fabricated trading sessions and circulated fake profit screenshots to gain victims’ confidence. The complainant was then persuaded to invest through a fraudulent trading application and transferred Rs 4.82 lakh through multiple banking channels. A small withdrawal was initially permitted to make the platform appear genuine.
The accused subsequently demanded another payment of around Rs 7.81 lakh, allegedly claiming it was required for an IPO allotment. The complainant then reported the fraud through the NCRP, resulting in FIR No. 75/26 under relevant provisions of the Bharatiya Nyaya Sanhita (BNS).
A dedicated team comprising SI Girdhari Lal, SI Neeraj, HC Sandeep, HC Lokesh, HC Manoj, HC Virender and HC Meenakshi worked under Inspector Pravesh Kaushik, SHO, Cyber Police Station, South-West District, and ACP Operations Sanghamitra.
Police traced the money trail through beneficiary accounts and analysed mobile data, digital communications and financial records. The investigation led to Maharashtra, where Shoeb Dilavar Saiyyad, 26, of Nandurbar, was arrested. His phone allegedly contained incriminating chats and other digital evidence.
Police said Saiyyad had travelled to Kerala with four others, where business entities were allegedly created and current bank accounts opened in their names. The network allegedly used a WhatsApp group called “Brotherhood” to share bank account details.
Four Gujarat residents — Siddiki Mahamadsiddik Mufidbhai, 30, of Surat; Shaikh Riyazuddin Imtiyaz, 29, of Surat; Hamza Humayu, 26, of Fort Songarh; and Kamalsha Kadarshah, 30, of Surat — were subsequently arrested with assistance from Bardoli Town Police in Surat.
Investigators alleged that they were persuaded by a person identified as Riya to provide current accounts for money and later travelled to Kerala with Saiyyad. Police said shell entities were established there and the banking credentials and kits were handed over to the cyber fraud operators.
Muzamil Thaib, 20, of Kasargod, Kerala, was arrested for allegedly coordinating with account holders, arranging accommodation and sharing account details and transaction-related OTPs through WhatsApp groups. Another key accused, Jamaluddin Faisal, 30, also from Kasargod, was arrested for allegedly facilitating shell companies and coordinating the opening and operation of bank accounts. Police said Faisal has two previous criminal cases in Kerala, including one under the NDPS Act and another relating to stalking.
The money trail also led to Punjab, where Sarabjit Singh, 43, and Sonia Sharma, 42, both from Amritsar, were arrested over their alleged roles in bank accounts and movement of fraud proceeds.
Police said Faisal disclosed that he had previously interacted with persons linked to the network while in Qatar. Investigators also suspect that Sam, described as a principal coordinator, was managing parts of the operation from Dubai. The roles of Riya, Sam, Farhaz and a bank employee are being verified.
The investigation has so far worked out seven Delhi cyber fraud cases involving approximately Rs 2.70 crore. Police said the cases were registered with the Crime Branch, IFSO, Cyber Police Stations in Outer North and South districts, the Special Cell and South-West District.
The syndicate allegedly targeted victims through WhatsApp investment groups and fake trading applications showing fabricated profits. When victims sought withdrawals, they were allegedly asked to pay additional amounts as taxes, brokerage, IPO allotment charges, verification fees, processing charges and margins. The money was then allegedly layered through current accounts opened in the names of shell companies.
Police recovered eight mobile phones containing WhatsApp conversations, banking records, KYC documents, account-opening forms, digital credentials, transaction details and other electronic evidence.
The investigation into the alleged international links and other facilitators is continuing.
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