International online trading scam racket busted; 7 arrested in raids across 4 states

The Delhi Police has arrested seven people allegedly linked with an international cybercrime syndicate involved in duping people on the pretext of online trading, an official said on Thursday.

- OUR CORRESPONDENT

Police said the accused were arrested in a nine-day operation covering around 1,800 km across four states.

“The syndicate came under the scanner after a 36-year-old software engineer from Delhi’s Burari was cheated of over Rs 22 lakh through a fake online trading platform posing as a reputed investment company.” Deputy Commissioner of Police (North) Raja Banthia said in a statement.

Police stated the complainant, Mukesh Kumar, came across an advertisement on social media in April this year that used the logo and name of a legitimate stock trading firm. The ad directed him to a group where members posed as expert traders and lured investors by sharing fake profit screenshots.

“One of the group members, identified as Kapil Jaikalyani, introduced himself as the director of the company and assured the victim that it was registered with SEBI. The victim was convinced after receiving a confirmation email and was added to another group where members frequently shared posts showing profits,” the DCP said.