New Delhi— The Delhi Police has uncovered a multi-state cybercrime network with alleged Chinese links after a senior citizen was cheated of more than ₹33 lakh in an online investment scam, officials said on Sunday.
According to investigators, a 61-year-old victim filed a complaint stating that he had lost his savings to a fraudulent digital investment platform. A technical probe revealed that the money had moved through several layers of beneficiary accounts before being funnelled into the bank accounts of a fake private limited company.
Two individuals linked to the bogus firm — identified as Shivam Singh from Faizabad in Uttar Pradesh and Lakshay from Delhi — were traced during the investigation. Lakshay was arrested on November 19. Police said he admitted to opening the company’s bank account on the directions of co-accused Shubham and others. He told officers that he routinely created bank accounts, obtained SIM cards, and handed over complete banking kits in exchange for a monthly payment of ₹20,000.
A dedicated police team carried out multiple raids across the Delhi-NCR region for weeks to locate Shubham, who frequently switched SIM cards to evade surveillance. He was arrested in Tilak Nagar on Saturday.
Officials recovered a laptop, two mobile phones, five chequebooks, and six debit cards from Shubham. During questioning, he revealed details of a larger financial network involving several shell companies. He also claimed that he received payments in USDT cryptocurrency and sold it to a Chinese handler, creating a continuous cycle of money laundering.
Police said Shubham destroyed chequebooks and broke the SIM card registered in his firm’s name after he learned about Lakshay’s arrest. The investigation is still underway.
