A major cyber fraud network that duped investors of over ₹35 crore through fake stock market investment schemes has been busted by the Noida Cyber Crime Police Station. Four individuals have been arrested, with investigators revealing that the operation was controlled by a Chinese-linked cybercrime network targeting Indian citizens through fake apps, social media promotions and manipulated trading platforms.
The syndicate reportedly lured investors across multiple Indian states by posing as stock market experts and promising high returns. Victims were approached through fake investment apps, WhatsApp and Telegram groups and social media advertisements. Once trust was gained, investors were persuaded to invest repeatedly, only to find their money had disappeared. The scam came to light after a single investor lost ₹12 crore, prompting police to register a case under the Bharatiya Nyaya Sanhita (BNS) and Information Technology Act, leading to the freezing of several bank accounts connected to the fraud.
Investigations revealed a structured money-laundering network involving fake firms and 50–60 bank accounts created using fraudulently obtained documents and the names of unsuspecting locals. One accused, Arjun Singh, admitted being recruited by Pankaj Gupta and introduced to key operators Rupendra and Tejpal. The commission system involved a 10% cut for Tejpal, 5% shared among middlemen and the remaining funds moved as directed by foreign handlers. Police also confirmed that Rupendra and Tejpal had previously been named in a ₹2.9-crore cyber fraud case, highlighting their history of repeat offenses.
Data from the National Cybercrime Reporting Portal (NCRP) showed 43 complaints linked to the same accounts across 10 states, including Telangana, Tamil Nadu, Haryana, Maharashtra, Rajasthan, Andhra Pradesh, Karnataka, Gujarat, Kerala and Delhi. Police confirmed operational links to a Chinese cyber syndicate, relying on fake trading platforms, encrypted instructions and international money-laundering routes. Authorities emphasized the need for citizens to remain cautious of online investment offers promising unusually high returns and to report suspicious activity through the National Cybercrime Reporting Portal or the 1930 helpline.
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