Delhi Crime Branch arrested 3 in a Rs 42.5 lakh stock market cyber fraud. The 'Cy-Hawk' operation uncovered a racket with international links to Chinese handlers, who used dummy bank accounts to launder money via cryptocurrency (USDT).
The Delhi Crime Branch on Sunday busted a high-profile cyber fraud module under the 'Cy-Hawk' operation. The team has arrested three accused involved in an organised cyber-financial racket with international linkages, police officials informed.
According to Delhi Crime Branch officials, the complainant, Mr Ranjan, a resident of Uttam Nagar, reported that he was cheated of approximately ₹42.5 lakh in a stock market-related cyber fraud. Based on the complaint, police registered an FIR under sections 308/318(4)/319/340 of the Bharatiya Nyaya Sanhita (BNS).
Investigation and First Arrest
During the investigation, the police said that ₹42.5 lakh was transferred to 36 different bank accounts. Out of this, ₹3,74,065/- was transferred on September 3, 2025, from the complainant's Kotak Mahindra Bank account to the UCO Bank Account at R.K. Puram Branch and was withdrawn the same day by cheque.
The Crime Branch mentioned that the said bank account was found to be in the name of Sabbir Ahmed, who was a resident of Munirka Village. Later, a special team was formed, and the accused, Sabbir Ahmed, was arrested on January 21, 2026.
During sustained interrogation, the alleged accused disclosed that he had opened 9-10 bank accounts in different banks and handed over the complete bank kits to Mohammed Sarfaraz and Mohammed Dilshad. He further revealed that he previously received a 2 per cent commission on the amount credited to these accounts.
International Racket Uncovered
Based on his disclosure, the other accused, Sarfaraz and Dilshad, were arrested on February 5, 2026.
During interrogation, the accused Sarfaraz and Dilshad allegedly disclosed their links with Chinese handlers and their agents. They revealed that they were involved in selling USDT (cryptocurrency) to Chinese nationals, which established international cyber-financial linkages. Their role included arranging dummy candidates and liaising with bank officials to facilitate the opening of multiple bank accounts in their names.
Police said that the accused had also admitted that after learning about the arrest of Sabbir Ahmed, they destroyed cheque books and broke the registered SIM card to destroy evidence. However, the mobile handset used with the said SIM card has been recovered. (ANI)
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