Gurugram Police have arrested a 29-year-old man from Hisar for allegedly providing his bank account to a cyber fraud network involved in a ₹1.08 crore investment scam.
The accused, identified as Kuldeep from Kharia village in Hisar, was arrested by a team from the Gurugram Sector-56 cybercrime police station. Investigators found that ₹3.74 lakh of the amount allegedly taken from a Gurugram resident had been credited to a private bank current account operated by him.
Victim Allegedly Lured by Stock Market Investment Scheme
The case came to light after a Gurugram resident approached the Cybercrime Police Station (West) on November 8 last year, alleging that he had lost ₹1.08 crore.
According to the complaint, the victim was approached with an investment opportunity promising attractive returns from the stock market. After being persuaded by the fraudsters, he reportedly transferred money into several bank accounts as instructed.
Police subsequently registered a case under relevant provisions of the Bharatiya Nyaya Sanhita and began examining the financial transactions associated with the alleged fraud.
₹3.74 Lakh Traced to Accused's Bank Account
A forensic examination of the banking records helped investigators trace part of the alleged fraud proceeds.
Police found that ₹3.74 lakh had entered a current account operated by Kuldeep. By following the transaction trail, investigators were able to identify the account holder and subsequently locate him in Hisar.
The account's alleged role in receiving and moving the money has become a key part of the ongoing investigation.
Account Allegedly Provided for Commission
During questioning, police allege that Kuldeep disclosed that he had opened the private bank current account and provided access to an associate for handling financial transactions.
According to the investigation, he allegedly received a fixed commission whenever substantial amounts were credited to the account.
After the money was received, he allegedly retained his commission and either withdrew the remaining amount for transfer elsewhere or moved it electronically to other beneficiaries.
Such accounts can be used by cybercrime networks to receive money from victims and quickly move it through multiple accounts, making the financial trail more difficult to follow.
However, the legal responsibility of an account holder depends on the evidence regarding their knowledge and involvement in the alleged criminal activity.
Police Trace Wider Money Trail
Gurugram Police are now examining the transaction history surrounding the ₹3.74 lakh credited to Kuldeep's account.
Investigators are also studying linked accounts and digital transfers to identify the associate who allegedly controlled or directed the movement of funds.
The wider probe is focused on identifying individuals who may have collected money from the victim, arranged inter-account transfers or handled cash withdrawals.
Investigation Into Investment Fraud Network Continues
The arrest is part of a broader effort to reconstruct the alleged money trail behind the ₹1.08 crore investment fraud.
Tracing each transaction can help investigators determine where the victim's money moved after the initial transfers and identify other accounts or individuals allegedly connected with the operation. Such work forms an important part of a Financial Investigation in suspected cyber-enabled fraud cases.
Police are continuing their investigation to establish the full network involved in the alleged scheme and locate other suspects.
The allegations against the accused and other suspected members of the network remain subject to investigation and the legal process.