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NEW DELHI: With the arrest of three men, the Delhi Police on Friday claimed to have busted a Cambodia-based syndicate involved in defrauding people by promising lucrative returns through investments in company shares.
The accused were identified as Anshu Jhajharia (24), Pramod Kumar (32), and Ankit Kumar (26), all residents of Jhunjhunu Rajasthan.
The police said that the accused used to transfer the money to other mule accounts and withdraw it in cash from different ATMs. “Via ‘hawala racket’, the cash amount was being converted in cryptocurrency USDT through a handler based in Dubai. The cryptocurrency was further being sent to the mastermind of the syndicate in Cambodia,” said a senior police officer.
The investigation began after a complaint was lodged by Devesh Kumar in June. He reported that he had been duped into investing approximately ` 12.5 lakh in what he believed to be a legitimate Initial Public Offering (IPO).
“Kumar had joined a WhatsApp group via an Instagram request and was introduced to a woman named Shama, who posed as an employee of a company called “Indus Capital.” She convinced him to invest in the company’s IPO, promising substantial returns. However, once the money was transferred, the IPO portal was blocked, and all communication ceased, leading Kumar to realise he had been scammed,” said DCP (northeast) Joy Tirkey.
During the probe, raids were conducted across Jaipur, Sikar, and Jhunjhunu, resulting in the arrest of Anshu, Pramod, and Ankit. The trio confessed to their involvement in the scam, detailing how they lured victims with promises of hefty returns from investments in fake IPOs. “Pramod played a key role in withdrawing the money and purchasing USDT through a hawala operator in Jhunjhunu, who had ties to Dubai. The cryptocurrency was then transferred to wallets controlled by the mastermind in Cambodia,” said the DCP.