Fake Gains 3 Crore Loss: Delhi Police Expose Stock Market Scam Network

The stock investigation began after New Delhi real estate developer Krishan Kumar filed a complaint, claiming fraud worth ₹3.76 crore. Acting on this, the Intelligence Fusion & Strategic Operations (IFSO) unit of the Delhi Police Special Cell busted a well-organised inter-state stock market scam syndicate. The group operated across several states and allegedly followed instructions from foreign handlers. Police said the accused targeted high-net-worth individuals by offering fake online stock market investments with assured returns.

Also Read: NTA Releases JEE Main 2026 Paper 1 Answer Key, Check Now

Stock-market: Inter-State Raids and Arrests

Delhi Police conducted coordinated raids in Mumbai, Kota, Noida, and Lucknow. These operations led to the arrest of six accused who managed a network of mule bank accounts. The syndicate used these accounts to move and launder money cheated from victims. Officers seized nine mobile phones, which contained key digital evidence related to the fraud. Investigators said the accused relied on fake investment platforms and digital tools to gain victims’ trust.

The probe revealed that ₹10 lakh from the cheated amount reached a mule account held by Sablu Kumar of Navi Mumbai. Technical surveillance later led police to Kota, where they arrested him. His questioning helped identify Wasim Ahmad in Delhi’s Jangpura. Police arrested Ahmad along with Rajesh Khan, Sahid Ali, and Mannu Issar. Device analysis exposed the group’s financial structure and money-routing methods. Police later arrested Manish Kumar from Dwarka, who allegedly managed fund flows and mule accounts. His WhatsApp chats linked him to 52 other cybercrime cases. Further investigation is ongoing.

Also Read: Your Android device might soon manage bookings and orders by itself