The Delhi Police have arrested 11 persons, including the alleged mastermind, for operating an inter-State investment fraud syndicate that duped many of crores by promising high returns through fake trading platforms.
The case came to light after a complaint from a man who was cheated of over ₹31.5 lakh. According to the police, the victim was added to a WhatsApp group and persuaded to download a fraudulent trading application named ‘Cventura’. After transferring money to multiple bank accounts, he was unable to withdraw the promised returns as the application became defunct and the group disappeared.
The Inter State Cell (ISC) of the Crime Branch, which investigated the case, found that the syndicate operated across several States using a structured network.
Investigators said the group created fake investment platforms and messaging groups, used mule bank accounts obtained through intermediaries, and deployed malicious applications to capture one-time passwords (OTPs) and facilitate unauthorised transactions. The proceeds were routed through a network of over 260 bank accounts linked to more than 100 shell companies, mainly based in Kolkata.
The police identified Karan Kajaria as the key coordinator of the operation, with links to international cyber fraud networks, particularly in Cambodia. Officials said he arranged mule accounts, routed funds through cryptocurrency channels, and shared banking details through encrypted platforms like Telegram.
