Delhi Police arrest two cyber fraudsters who duped victims of Rs 50 lakh in separate cases

Delhi Police arrested two men on Saturday in separate cyber-fraud cases involving online investment scams that defrauded victims of more than Rs 50 lakh, an official said.

According to the police, the accused have been identified as Sunil Kumar Reddy, 44, an MBA graduate and business development executive from Anantapur, Andhra Pradesh, and Ayush Semwal, 21, a B.Com third-year student and call-centre employee from Gautam Buddh Nagar, Uttar Pradesh.

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They allegedly used disguised investment advisory platforms, bogus incentive schemes, and fake crypto-trading interfaces to trick victims and divert their money, an officer said.

The two have been booked in different cases that were registered under the relevant sections of the Bharatiya Nyaya Sanhita (BNS).

Police said that in the first case, a complainant alleged being defrauded of Rs 23.8 lakh under the guise of a stock market investment.

Sunil allegedly impersonated an investment adviser and persuaded the victim to transfer money through 15 RTGS and NEFT transactions into several accounts.

An officer stated that all the identified bank accounts were immediately frozen, and Rs 5 lakh was returned to the complainant. Following persistent efforts, Reddy was located and arrested in Anantapur, they added.

In the second case, a private employee from Lucknow claimed he was cheated out of Rs 26.49 lakh after being promised online incentives and then persuaded to invest in a fake crypto trading platform.

Ayush was involved in moving the cheated funds through mule accounts, police said.

Police said that at least 18 “Layer-1” bank accounts were used to channel and conceal the crime proceeds and added that all accounts connected to the operation have since been frozen.

Police said that during questioning, Semwal allegedly admitted to selling multiple bank accounts to an associate in return for commissions.

“He was arrested from his workplace in Noida Sector-58 on November 8, and further investigation into this case is ongoing by the team,” the officer added.