Victims cheated of nearly ₹6.40 crores through fake IPO funding and stock market schemes., 66 lakhs traced to Mohd. Asim Ali Khan’s account (8 NCRP complaints)., 6.71 lakhs traced to Rushikesh Kamble’s accounts (78 NCRP complaints)., Both accused acted as “account holders” for organized cyber fraud syndicates. previous involvements found in cybercrime cases in Haryana & Hyderabad.
Face2News/New Delhi
In a major crackdown on cyber-enabled financial fraud, the Cyber Cell of Crime Branch, Delhi Police, led by Insp. Manjeet Kumar under the supervision of Sh. Ramesh Lamba, ACP/Cyber Cell, has arrested two key accused involved in a multi-crore stock market scam. The duo provided their bank accounts to interstate cyber syndicates, enabling diversion and laundering of victims’ funds through multiple channels.
(MOREPIC1) By luring victims with false promises of “IPO funding” and high-return stock market investments, the syndicate cheated investors of nearly ₹6.40 crores. These arrests expose the deep nexus of organized cyber fraud and significantly disrupt the financial pipelines misused to cheat citizens nationwide.
ACCUSED ARRESTED : Mohd. Asim Ali Khan S/o Mohd. Ashif Ali Khan, r/o Haldwani, Nainital, Uttarakhand. • Linked to FIR No. 131/25, dated 17.04.2025, u/s 318(4)/319(2)/3(5) BNS, PS Special Cell, New Delhi. • Facilitated fraudulent transactions of ₹66 lakhs out of ₹5.9 crores via his Bank of Baroda account (AR Traders). • Account linked with 8 NCRP complaints. • Previous involvement: FIR No. 32/2025, PS Kurukshetra, Haryana.
Rushikesh Jaywant Kamble S/o Jaywant Parbho Kamble, R/o Mundwa, Pune City, Maharashtra. • Linked to e-FIR No. 60000022, dated 30.05.2025, u/s 308/319/340 BNS, PS Cyber East, Delhi. • Facilitated fraudulent transactions of ₹6.71 lakhs routed through two accounts. • Accounts linked with 78 NCRP complaints • Previous involvement: FIR No. 967/2025, PS Cyber Crime Detective Dept., Hyderabad.
MODUS OPERANDI : Victims were contacted via social media and WhatsApp, lured to download fake trading apps such as CBCX, and induced to join investment groups. Large sums were transferred into layered bank accounts. On withdrawal requests, the fraudsters used deceit, threats, and coercion.
INVESTIGATION :- Case 1 (FIR 131/25): Complainant was duped of nearly ₹5.93 crores. Technical probe identified 33 first-layer accounts, including AR Traders (Bank of Baroda) linked to accused Asim Ali Khan. • Case 2 (E-FIR 60000022): Complainant was cheated of ₹46.66 lakhs. Eight firstlayer accounts were traced, including those of accused Rushikesh Kamble.
Both accused repeatedly provided their banking credentials for a commission, despite being linked to multiple NCRP complaints.
INTERROGATION FINDINGS:- Mr. Aditya Gautam, DCP, Crime IV, said, both accused admitted to acting as professional account providers for organized cyber syndicates. • They opened multiple accounts, handing over full access—cheque books, ATM cards, internet banking credentials, and SIMs—to handlers.• Their accounts were crucial for receiving, layering, and circulating fraud proceeds across India, shielding masterminds from direct detection.• Background checks confirm previous cybercrime involvements, establishing them as repeat offenders and trusted facilitators.
SIGNIFICANCE:- Disruption of two major money-laundering channels in pan-India stock market frauds.
• Exposure of “account provider networks” enabling large-scale cyber fraud. • Linked NCRP complaints demonstrate the nationwide scale of victimization.• Efforts underway to trace handlers, freeze more accounts, and apprehend coaccused.
Further Investigation is in progress.
