Online investment fraud foiled, 4 nabbed

NEW DELHI: The Cyber Cell of the Delhi Police has dismantled an online investment fraud syndicate, arresting four individuals involved in duping a deputy general manager of an international company through an Instagram advertisement.

The accused were identified as Chetan Singh Ranawat (33), a resident of Rajasthan, Nikunj Ashvinbhai Makvana (29), a resident of Amreli, Gujrat, Aditya Sonkar (23) and Sumit Shaw (23), both residents of Kolkata. According to the police, the syndicate was exposed following a complaint by Arjun Sethi, a deputy general manager in an international company.

Sethi was lured into a WhatsApp group, “Vanguard Group 249,” after responding to an Instagram advertisement, where scammers promised high returns on investments. Sethi invested Rs 42 lakh but was scammed when he tried to withdraw the funds, as the scammers demanded extra payments for taxes and fees. He filed a complaint on the National Cybercrime Reporting Portal.

Delhi Police traced the suspects to Rajasthan, Gujarat, and West Bengal, arresting four individuals led by SI Jagdeep Nara and recovering five smartphones used in the crime. The syndicate operated through multiple bank accounts, and the accused admitted to providing their accounts for commissions. The investigation revealed 72 related complaints and over Rs 4.28 crore transacted through

fraudulent accounts.