Delhi Police Bust Dubai‑Linked Investment Fraud Syndicate, Arrest 4

The Indian Delhi Police have dismantled a multi‑layered investment fraud syndicate where operators posed as investment consultants on social media under the guise of a Mumbai‑based non‑banking financial company (NBFC). Four men have been arrested for operating mule accounts and facilitating money laundering in the scam.

The case surfaced after a woman was cheated of nearly ₹60 million. Investigators said the fraudsters contacted victims on Facebook, claiming affiliation with an NBFC named “CBCX Global Traders”, and induced them to invest in high‑return trading accounts.

Police identified the accused as Anas Ansari, Mohd. Kaif, Akib, and Md. Danish, who allegedly operated mule accounts and funnelled money for a Dubai‑based handler. The racket dispersed cheated funds across 33 bank accounts, layering transfers to obscure the trail.

Md. Danish allegedly arranged mule accounts and managed withdrawals and distribution of illicit funds for the syndicate. Ansari and Kaif acted as account providers, withdrawing proceeds and delivering cash on commission. Akib shared OTPs and account access with handlers, receiving a cut of illicit proceeds.

The accused are linked to at least 10 cybercrime complaints nationwide, with ₹1.1 crore traced in linked National Cybercrime Reporting Portal (NCRP) complaints.

The syndicate relied on investment consultant impersonation and social media outreach to lure victims. Such networks often operate with cross‑border handlers and complex laundering structures. In a separate Dubai-linked case, three men were arrested for their alleged role in an interstate syndicate that duped Indian investors through a large-scale forex trading scam coordinated by handlers based in Dubai.