MULTI-STATE FAKE FIRMS USED CRYPTO ROUTE EXPOSED
(MOREPIC1) Face2News/New Delhi
The Cyber Cell of Crime Branch, Delhi Police, has successfully dismantled a major cyber syndicate operating across multiple states and linked with cross-border financial networks. The operation stemmed from the investigation of E-FIR No. 00031/2025 (60000406/2025), filed by a 61-year-old senior citizen who was cheated of ₹33,10,000/- in an online investment scam.
During the technical investigation, the cheated money was found routed through multiple second-layer beneficiary accounts of a fictitious company, BELCREST INDIA PVT. LTD. Key Directors Identified as Shivam Singh, R/o Faizabad, U.P. and Lakshay, R/o Delhi. A total of ₹10,38,000/- was traced to BELCREST-linked accounts.
(SUBHEAD)Accused Lakshay was arrested on 19.11.2025. He confessed to opening the fake BELCREST firm, creating bank accounts, and handing over bank kits and SIM cards to co-accused Shubham and others for a monthly payment of ₹20,000/-.
RELENTLESS TRACKING & ARREST OF ACCUSED SHUBHAM : A dedicated team led by Insp. Ashok, SI Bhagyashri, and HC Dinesh conducted multiple raids across Delhi NCR to trace accused Shubham, who frequently changed SIM cards to evade detection. However, persistence yielded result and Shubham was apprehended on 6.12.25 from Tilak Nagar.
RECOVERY: 1 Laptop, 2 Mobile Phones, 5 Chequebooks, 6 Debit Cards
CRYPTO NETWORK EXPOSED: Mr. Aditya Gautam, DCP, Cyber Cell, crime, said, during interrogation, Shubham disclosed that he worked with a handler, who provided multiple third and fourth-layer accounts of shell companies including:CSP24SEVEN Technologies, Levin Fintech, EKO India, Rinova Pvt. Ltd., Money Wave Pvt. Ltd., Easy Mudra Pvt. Ltd., Lavi Software & Technology Pvt. Ltd.He further admitted to receiving USDT (cryptocurrency) from him and selling it to a Chinese-controlled entity “Kool Pay.”
MODUS OPERANDI: The Chinese company Kool Pay transferred funds from first layer beneficiary accounts into BELCREST accounts. These were routed through multi-layer bank accounts. The money was used to purchase USDT from private vendors. USDT was repeatedly sold back to Kool Pay, enabling a continuous cycle. Shubham also destroyed BELCREST cheque books and broke registered SIM card after learning of Lakshay’s arrest. The handset used with the said SIM was recovered.
