Journalism of Courage

3 accused involved in high-value cyber financial fraud cases held

Ansari confessed to working with accomplices to lure investors and provided investigators with details that may lead to further arrests, said the police.

By: Express News Service
Chandigarh | Updated: September 27, 2025 10:46 PM IST

2 min read

Police meanwhile believe more individuals are part of the network, and custodial interrogation is expected to reveal the wider chain and recover the defrauded amount. (Source: File)

The Cyber Crime Police Station of Chandigarh has arrested three key accused involved in high-value cyber financial fraud cases.

Two arrested in loan modification fraud

The first case was registered on July 28, 2025, on the complaint of Yogesh Kumar, a Chandigarh resident who lost Rs 4.61 lakh in a fraudulent loan modification scheme. The complainant, already repaying a business loan, was duped by callers impersonating executives from his financial company. He was tricked into believing that his loan tenure could only be extended after clearing pending dues, and was induced to transfer the amount through payment links sent over WhatsApp.

Following a detailed technical analysis of phone records and banking transactions, the police traced the cheated money to accounts in Indian Overseas Bank and ICICI Bank belonging to Vikrant Singh (31) and Sourav Kumar (26), both residents of Lucknow, Uttar Pradesh. Acting swiftly, a team of Chandigarh Police conducted raids in Lucknow, arresting Singh on September 24, followed by Kumar on September 25.

During interrogation, both admitted to providing their bank accounts and withdrawing the funds on behalf of another person. Police meanwhile believe more individuals are part of the network, and custodial interrogation is expected to reveal the wider chain and recover the defrauded amount.

One arrested in investment scam

The second case, registered on July 25, 2025, was filed by Anil Prakash Dubey of Chandigarh, who was cheated of Rs 6.67 lakh in a fraudulent investment scheme. The complainant received a WhatsApp call from a fraudster posing as a Tata Capital employee. Promising high returns through bulk share trading, the caller first encouraged Dubey to invest small amounts, even returning initial profits to win his confidence. Persuaded, the complainant invested larger sums before realising he had fallen victim to a well-planned scam.

Investigations revealed that the defrauded amount was funnelled into an IDFC First Bank account. Acting on leads, the police conducted a raid in Gorakhpur, Deoria (UP), and arrested Abulaish Ansari (50) on September 22. His phone, containing crucial evidence of communications with co-accused and other victims, was also seized.

Ansari confessed to working with accomplices to lure investors and provided investigators with details that may lead to further arrests, said the police.

From the homepage