Delhi Police Arrest Two for Providing Bank Accounts to Cyber Fraudsters

New Delhi: The Delhi Police Crime Branch has arrested two men who supplied bank accounts to cyber fraudsters involved in high-value investment scams. The accused, identified as Sajjad Ahmed and Uttam Mandal, both residents of Delhi, worked as professional “account providers” and facilitators.

According to DCP Aditya Gautam, the duo purchased bank accounts from individuals by promising profit-sharing and then handed over the entire banking kit—chequebook, ATM card, SIM card, and login credentials—to cyber criminals. These accounts were used by interstate fraudsters to receive money cheated from victims.

The arrests were made during the investigation of a case in which a victim lost ₹2.35 crore after being lured into a fake stock market and forex trading scheme. The fraudsters first approached the victim through Facebook, added him to a manipulated online trading group, and showed artificial profits to gain trust. When the victim attempted to withdraw funds, the scammers refused and issued threats.

The accused had opened a current account in the name of M/s Chand Electronics and transferred its control to their handler. Police are now tracing the money trail and working to identify and arrest other members of the syndicate.