New Delhi: Delhi Police has arrested four alleged cyber fraudsters in connection with a pan-India online investment scam and found transactions worth Rs 7.16 crore related to multiple NCRP complaints, an official said on Wednesday. The arrests were made during the investigation of an online investment fraud case registered on November 3, where they scammed a Delhi-based person of Rs 27.2 lakh, Deputy Commissioner of Police (Crime Branch) Aditya Gautam said.

According to the officer, the accused were part of a larger cybercrime syndicate that used high-volume mule bank accounts to route and launder fraud proceeds linked to more than 300 cybercrime complaints across the country.

Transactions worth Rs 7.16 crore have been traced in related National Cyber Crime Reporting Portal (NCRP) complaints, he said.

The complainant told police that he was contacted by unknown people online and was added to fake investment groups where fabricated profits were shown to him.

Police said the accused then persuaded him to download a fraudulent trading application named ‘Conifer’, through which he was induced to invest in a fake IPO of a logistics firm.

Believing the returns displayed on the app to be genuine, the victim transferred Rs 27.2 lakh into multiple beneficiary accounts. When he refused to invest further, his app account was frozen, police said.

Subsequent investigation revealed that the beneficiary accounts were mule accounts operated by a coordinated group based in Pune and Hyderabad. One such account, belonging to M/s Nexus-IN Broadband, was identified as a key channel used to receive and launder the cheated money, the DCP added.