Delhi Police Busts ₹6 Crore Stock Scam

The Delhi Police Crime Branch has successfully cracked a ₹6 crore stock market scam. Fraudsters not only promised unrealistic profits but also lured investors through fake trading apps. As a result, dozens of people lost their hard-earned savings.

How the Scam Worked

The scammers carefully designed professional-looking trading apps. Moreover, they attracted victims through social media ads, WhatsApp groups, and tele-calling centers. Once the victims invested money, the fake app displayed inflated profits. However, when investors tried to withdraw their funds, the scammers either blocked access or demanded extra charges such as “taxes” and “processing fees.”

Key Arrests and Role of Account Providers

Importantly, the police arrested Mohammed Asim Ali Khan and Rushikesh Kamble. Both played the role of “professional account providers.” In fact, their accounts were used to route ₹66 lakh and ₹6.7 lakh of fraud money. Consequently, the gang managed to hide the real masterminds by layering transactions across multiple accounts.

Investigation Progress

Meanwhile, the Crime Branch froze several suspicious bank accounts and began tracking the digital trail. In addition, cyber experts are scanning servers and communication channels used for the fake apps. According to police officials, this scam may link to a much larger syndicate operating across multiple states.

Warning for Investors

Therefore, the police urged citizens to stay cautious. No genuine stock market platform ever guarantees fixed or extraordinary returns. Investors should always verify SEBI registration and double-check trading apps before transferring money.

Why This Scam Matters

This bust not only highlights a major cybercrime but also shows the growing threat of online fraud in India. Furthermore, experts warn that as digital trading expands, scams will continue to rise. Hence, stronger awareness campaigns, strict security checks, and better cyber laws are essential to protect small investors.