Police arrest 8 in interstate investment fraud that stole Rs 4cr in 14 days

New Delhi: Police have arrested eight fraudsters for allegedly running an inter-state investment fraud syndicate that managed to siphon nearly Rs 4 crore through mule bank accounts in just 14 days. Among the arrested was an MBA graduate as well as a 61-year-old man.

Police found out that the gang had links to handlers in Cambodia. The Indians in the ring had facilitated mule accounts and fund transfers against payment of commissions.


The arrests were made after an investigation into a fake investment scam that had duped multiple victims across the country. Police said at least 63 complaints registered on the National Cybercrime Reporting Portal (NCRP) could be linked back to this gang.

The arrested were identified as Vanapatla Sunil Kumar (43) and Sakinala Shankar (61) from Telangana, Manoj Yadav (38) from Sant Kabir Nagar in Uttar Pradesh, Sandeep Singh (30) from Varanasi, Aditya Pratap Singh (23) from Rajasthan's Bundi, Rahul (30) and Sheru (38) from Nabi Karim area, and Sompal (34) from Bareilly in Uttar Pradesh.

Police said Sompal was an MBA graduate who ran a software company before allegedly supplying his corporate bank account to the cyber frauds after the business failed.

The case came to light on Nov 7 last year, when a 42-year-old woman from Vasant Kunj said in a complaint that she was cheated of Rs 15.58 lakh on the pretext of a stock market investment. Police said the woman was supposedly offered "expert guidance" and assured high returns by the cheats. She subsequently transferred money to accounts controlled by the syndicate.

"The trail first led to Sunil in Telangana, who allegedly arranged for mule accounts against a commission by opening a fake firm in Keesara and securing a current account in a bank. His associate Shankar was arrested next, followed by Manoj Yadav, who tested the account in Lucknow," DCP (south west) Amit Goel said.

Raids were conducted in Uttar Pradesh, Rajasthan and Delhi, leading to the arrest of the remaining accused. "Aditya Pratap Singh coordinated the supply of mule accounts across India and shared their access with foreign handlers via Telegram. The cheated funds were layered through multiple accounts held by Sompal and Rahul, to make tracing difficult," DCP Goel said.

Investigators found 10 smartphones and 13 SIM cards, allegedly used to operate the accounts, transfer funds and communicate with overseas handlers.