New Delhi [India], May 20 (HBTV): In a significant breakthrough, the Cyber Police Station of Delhi's Outer North District has busted an elaborate online investment fraud operation, leading to the arrest of 29-year-old Jitendra Sharma.
The accused allegedly ran a racket that impersonated Aditya Birla Capital through fake trading applications and duped multiple victims across North India of nearly INR 48 lakh.
The investigation began after a complaint was filed by Vinay Singhal, who reported being defrauded through a fake investment platform named ‘Aditya Birla Group Investment Group’. He was contacted through Instagram and WhatsApp and persuaded to download a counterfeit trading app that mimicked the authentic interface of Aditya Birla Capital.
According to the police, once Singhal started transferring funds under the belief that he was making genuine investments, the money was siphoned off into various shell company and personal accounts. The network utilised dormant bank accounts purchased from individuals to obscure the trail, enabling rapid fund movement and withdrawals.
An FIR was registered on March 17, 2025, under Section 318(4) of the Bharatiya Nyaya Sanhita (BNS). Two additional complaints followed, all pointing to a coordinated fraud network that collectively swindled investors of INR 48 lakh.
Digital footprint analysis and scrutiny of Know Your Customer (KYC) documents led police to identify Sharma’s direct role in the scam. He is alleged to have provided the corporate bank accounts of his company, OZOS Services India Pvt. Ltd., maintained with IDFC First Bank and HSBC Bank, in return for financial compensation. Sharma is listed as the managing director and a direct beneficiary of the defrauded funds.
On May 16, 2025, police raided Sharma’s hideout in Vangaon, Palghar district of Maharashtra. At the time, Sharma was out on bail in another cyber fraud case registered by Faridabad Police. During the operation, officials seized key evidence, including four mobile phones, a laptop, an Apple Watch, debit cards, pen drives containing transaction data, cheque books, a bank passbook, a company stamp, and INR 80,000 in cash.
Authorities confirmed that Sharma’s bank accounts have been linked to at least 46 complaints registered on the National Cybercrime Reporting Portal (NCRP).
Further investigation is underway.
(ANI)