Three Arrested in ₹6.33-Crore Pan-India Investment Fraud Network

Delhi Police Crime Branch has arrested Pravash Chandra Panda, Pritam Roshan Panda and Sritam Roshan Panda for allegedly running a sophisticated investment fraud network valued at ₹6.33 crore. Investigators said the trio operated hundreds of mule accounts and a layered laundering ecosystem that enabled them to siphon funds from victims across multiple states.

Initial findings reveal links to at least 165 cyber fraud complaints registered nationwide. Police believe the group formed a crucial part of a much larger operation exploiting digital investment schemes and manipulating financial platforms to lure unsuspecting investors with promises of high returns.

According to DCP Aditya Gautam, the accused posed as representatives of a SEBI-registered brokerage firm. They circulated forged SEBI certificates, used manipulated trading apps and encouraged victims to invest in secondary stocks, pre-IPO shares and off-market opportunities. Everything was designed to imitate legitimate trading environments, giving victims a false sense of security.

One complainant transferred ₹49.73 lakh across several beneficiary accounts, unaware that he was dealing with a network of mule operators. A key account under the name M/s Shreeji Apparels emerged as a central channel, allegedly used to receive, split and divert the fraudulent funds.

A deeper financial audit uncovered a multi-layered shell network. Funds were rapidly withdrawn in structured amounts to obscure the trail, while shell entities were created to cycle money internally before final withdrawals. Police said the coordination and laundering pattern showed signs of an experienced, organised cyber syndicate.

Investigators are now tracing additional operatives connected to the wider network. Officers believe the scam mirrors several national-level fraud models where criminals exploit regulatory gaps, fake credentials and digital trading platforms to deceive investors. As more financial trails come to light, additional arrests are expected.

Strengthening internal controls and conducting periodic independent reviews through professional auditing services in india can help businesses detect such financial irregularities early and protect themselves from sophisticated fraud ecosystems.