Delhi Police have arrested four alleged cyber fraudsters in connection with a pan-India online investment scam, uncovering financial transactions worth ₹7.16 crore linked to hundreds of cybercrime complaints across the country.
The arrests were made during the investigation of an online investment fraud case registered on November 3, in which a Delhi-based individual was cheated of ₹27.2 lakh. During the probe, police found that the accused were part of a larger, organised cybercrime syndicate that used high-volume mule bank accounts to route and launder money obtained through fraudulent investment schemes.
Investigators traced transactions amounting to ₹7.16 crore linked to multiple complaints registered on the National Cyber Crime Reporting Portal. Officials said these transactions were connected to more than 300 cybercrime complaints nationwide.
According to police, the complainant was initially contacted by unknown individuals online and added to fake investment groups where manipulated and fabricated profits were displayed to gain his trust. The accused then persuaded him to download a fraudulent trading application named &ldquo;Conifer&rdquo;, through which he was lured into investing in a fake initial public offering of a logistics firm.
Believing the returns shown on the app to be genuine, the victim transferred ₹27.2 lakh into several beneficiary accounts. When he declined to invest further funds, his account on the app was frozen, raising suspicion and prompting him to approach the police.
Further investigation revealed that the beneficiary accounts were mule accounts operated by a coordinated group based in Pune and Hyderabad. One account, registered under M/s Nexus-IN Broadband, was identified as a key channel used to receive and launder the defrauded money. Financial analysis showed that the funds were rapidly layered through multiple transfers, ATM withdrawals and additional mule accounts, with no legitimate business activity linked to the entity.
The arrested individuals have been identified as Mayur Maruti Sanas and Gaurav Jadhav from Pune, and Mohammed Yousuf Ali and Mohd Abrar Khan from Hyderabad. Police said the accused stayed together in a hotel in Pune and actively operated mule accounts to further transfer the defrauded funds.
Investigators stated that the four accused were responsible for managing first-layer mule accounts for a wider cybercrime syndicate involved in online investment scams across multiple states. Electronic devices, banking instruments and digital communication records were recovered during the arrests, which corroborated their coordinated role in handling the fraud proceeds.
Further investigation is ongoing to identify other members of the syndicate and to trace additional proceeds of the crime.

Four held in pan-India online investment scam involving transactions worth ₹7.16 crore  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 ₹27.2 lakh, Deputy Commissioner of Police Aditya Gautam said

Delhi Police bust pan-India cyber fraud syndicate using mule accounts

Four held in ₹7.16 crore online investment scam

Delhi Police bust pan-India cyber fraud syndicate using mule accounts

December 24, 2025 | 19:01 IST