The accused were using mule accounts to receive money, which was then laundered using USDT cryptocurrency.
Delhi Police (IANS)
Five accused, including a teenager, were arrested by the Delhi Police for allegedly duping an unemployed woman of over Rs 17 lakh by luring her into a fake work-from-home scheme, it said on Friday.
The accused were using mule accounts to receive money, which was then laundered using USDT cryptocurrency.
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Deputy Commissioner of Police Raja Banthia said, “We received information from a 29-year-old woman from Delhi’s Burari who had been seeking employment when she came across a task offer promising high returns for completing simple online assignments, She initially received small commissions for completing tasks but was soon trapped into making repeated UPI payments under the pretext of unlocking higher-level incentives.”
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He said the victim ended up transferring Rs 17.29 lakh to various accounts linked to the fraudsters. “Adding more problems for her, they allegedly used her mobile number and identity credentials to illegally obtain personal loans worth Rs 8.8 lakh from two banks, without her knowledge or consent,” DCP Banthia added.
Upon this an FIR was registered, and a police team analysed bank transactions, surveillance data, and digital evidence.
Cops mentioned that they found that fraudulently obtained funds were routed through multiple bank accounts, referred to as mule accounts, before being converted into cryptocurrency.
“Based on the information gathered, raids were conducted at multiple locations across the city that resulted in the arrest of five people involved in the operation,” said the DCP.
During sustained interrogation, it was found that the gang operated a well-organised syndicate involving social media handlers, mule account operators, and an unregistered crypto broker.
The accused used encrypted communication tools, often using international numbers to avoid detection, the officer mentioned.
Furthermore, sharing the profile of the accused, the police said Krish (19), a resident of Ashok Vihar, was identified as the central operative managing the flow of defrauded money. A school dropout, who had previously worked as a bike taxi driver, Krish allegedly learned the mechanics of cryptocurrency laundering through his associates and quickly established himself as the key link between mule account holders and crypto buyers.
He allegedly collected bank details, UPI IDs, and QR codes from his co-accused and forwarded them to buyers through social media. The laundered money was either withdrawn in cash or converted into USDT with the help of others, the police said.
They further added by saying, Nidhi Agarwal (47), a resident of Hudson Lane, Kingsway Camp, admitted to operating as a crypto handler without any legal authorisation.
It was alleged that Nidhi converted the cash received from Krish and his associates into USDT tokens using an international number. She purchased tokens from informal suppliers and sold them for a small commission.
Deepak (23), a graduate from Kabir Nagar in Rana Pratap Bagh, worked closely with Krish and was allegedly responsible for sourcing bank accounts for transactions.
Gaurav (27), also from Rana Pratap Bagh, allegedly played an intermediary role by connecting account holders with the syndicate.
He introduced 19-year-old Manthan, a youth from Burari, who allegedly offered his bank account for processing Rs 50,000 of the defrauded funds in exchange for petty commissions.
Manthan, a BA first-year student, also participated in cash handovers during crypto conversions.
“We have recovered six mobile phones used by the accused, six SIM cards utilised for encrypted communications, one bank cheque book, and one ATM. Further investigation into the matter is underway,” the police said.
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