Delhi Man Arrested In Rs 2.61 Crore Crypto Currency Fraud
The accused, identified as Rajeev Bhansali (also known as Rajiv Bansal or Saleem Khan), a resident of Lajpat Nagar, Sahidabad, Uttar Pradesh, was arrested in Delhi and brought to Visakhapatnam on transit remand for further investigation.
Visakhapatnam: The Visakhapatnam cybercrime police have arrested a Delhi-based accused in connection with a major cryptocurrency fraud that duped a local doctor of Rs 2.61 crore through an elaborate stock trading scam.
The accused, identified as Rajeev Bhansali (also known as Rajiv Bansal or Saleem Khan), a resident of Lajpat Nagar, Sahidabad, Uttar Pradesh, was arrested in Delhi and brought to Visakhapatnam on transit remand for further investigation.
According to cyber crime circle inspector Bhawani Shankar, the case was registered in January following a complaint filed by the victim with the city police commissioner. The investigation revealed that in December 2023, the doctor was added to WhatsApp groups named "BSE & NSE Deep Insight-9827" and "Share â 999".
The cybercriminals convinced the victim that investing in stock trading, institutional stocks, over-the-counter (OTC) stocks, and initial public offerings (IPOs) would yield substantial profits in a short time frame. They also created fake trading accounts on Telegram channels, promising high returns to lure the victim.
"The doctor was cheated through stock fraud. He joined a Telegram channel where they created fake deemed accounts promising high returns. When the doctor invested, they committed fraud," explained CI Bhawani Shankar.
The investigation uncovered that the cyber gang employed sophisticated methods to launder the stolen funds. After receiving the Rs 2.61 crore from the victim, the criminals converted the money into cryptocurrency and subsequently withdrew cash through ATMs in and around Delhi.
During the arrest, police seized several items, including laptops, bank passbooks, official stamps, mobile phones, and ATM cards from the accused.
"We have registered the case, and the investigation is ongoing to uncover more details and apprehend other members of the gang," stated CI Bhawani Shankar.