Punjab Polices State Cyber Crime Division has busted a multi-crore inter-state gang involved in an elaborate investment fraud, arresting two key accused from Panchkula and Abohar. The gang, active across 14 states, is believed to be behind 34 cyber fraud complaints involving a total estimated scam amount of over Rs eight crore. The state Director General of Police (DGP) Gaurav Yadav on Tuesday said that the arrests were made as part of the ongoing drive to make Punjab a cyber-secure state. The arrested individuals — Varun Kumar from Panchkula and Sahil Sethi from Abohar — played significant roles in the cyber investment scam by operating mule bank accounts used to siphon off funds from victims across India, said the DGP. The gangs modus operandi involved luring unsuspecting individuals into joining fake stock trading groups on platforms like Telegram and WhatsApp, offering false promises of high returns. Victims were convinced to install a counterfeit APK application that simulated soaring investment returns. Encouraged by these fabricated profits, victims continued depositing large sums into various bank accounts controlled by the fraudsters. The states Additional Director General of Police (ADGP), Cyber Crime, V Neeraja revealed that a victim complaint, involving a loss of Rs 15 lakh, set off the investigation. Under the supervision of Inspector Jujhar Singh, the Cyber Crime team employed Open Source Intelligence (OSINT) tools and leveraged the Indian Cyber Crime Coordination Centre (I4C)s Samanvay portal to identify and trace the suspects. Varun Kumar had rented his personal bank account to Sahil Sethi for commission, who then sourced multiple such mule accounts. These were delivered to handlers in Delhi-NCR using instructions received via virtual mobile numbers, which are now under probe, said ADGP Neeraja. The arrested duo received commissions based on the volume of fraud money transferred through these accounts. Authorities suspect a larger organized network involving handlers and operatives operating via virtual identities. A comprehensive investigation is underway to identify the kingpins and map the broader web of this cyber fraud racket.

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