New Delhi, Dec 17 The Cyber Cell of the Delhi Police Crime Branch has busted a major online stock trading fraud involving Rs 47.23 lakh, arresting five more accused and exposing a cyber fraud syndicate allegedly operating under the command of a Chinese national.
With these arrests, the total number of accused held in the case has risen to eight.
The arrested accused have been identified as Manshvi Dochak, Manish Mehra, Manjeet Singh, Sombir and Atul Sharma. Three key operatives, including Ashish Kumar alias Jack, had been arrested earlier in connection with the case registered under E-FIR No. 60000097/2025 at Cyber Police Station, South East Delhi.
According to police, the case pertains to a Chartered Accountant who was lured through a Telegram group promoting fake stock trading schemes offering assured daily profits under “Buy Today–Sell Tomorrow” and IPO rating traps. The victim was persuaded to invest Rs 47.23 lakh over two months through a fraudulent website and multiple fake trading applications. When he attempted to withdraw his funds, the fraudsters resorted to intimidation and extortion.
Investigations revealed that Rs 31.45 lakh of the cheated amount was credited to a current account of Harshita Furnitures & Interiors, from where Rs 23.80 lakh was further routed to Bubai Instant Shop OPC Pvt. Ltd., a shell entity allegedly created to siphon off fraud proceeds. The syndicate had opened seven current accounts across multiple banks to launder money, with banking credentials linked to as many as 1,167 FIRs and complaints on the National Cybercrime Reporting Portal.
Police also found that the accused were operating an office in Noida and were reporting to Ashish Kumar alias Jack, who allegedly received instructions from a Chinese national identified as “Tom”. The network was also found to be involved in digital arrest scams.
Fourteen fake investment and trading applications used in the fraud have been identified. The arrests followed technical surveillance, CDR analysis and field operations conducted in Gurugram and Haryana.
“Further investigation is underway to trace other beneficiaries, unravel the money trail, and apprehend absconding associates, including Tom. This operation not only resulted in the arrest of a total of eight operatives so far, but also dismantled a sophisticated cyber fraud racket with cross-border links,” said DCP Aditya Gautam.
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