<p>New Delhi: The Delhi Police has busted a multi-state cyber syndicate with suspected Chinese links that allegedly cheated a senior citizen of over Rs 33 lakh through an online investment scam, an official said on Sunday.</p>.<p>Police said a 61-year-old man has filed a complaint stating that he had been duped in a fraudulent digital investment scheme.</p>.<p>"Technical analysis revealed that the money had been routed through multiple layers of beneficiary accounts, eventually landing in the bank accounts of a fake private limited company," a police officer said.</p>.<p>The officer further said two people linked to the fictitious firm were identified as Shivam Singh from Uttar Pradesh's Faizabad and Lakshay, a resident of Delhi.</p>.Delhi CM announces Rs 1.5 crore prize for cricketer Pratika Rawal.<p>"Lakshay was arrested on November 19. During interrogation, he admitted to opening a firm account on the instructions of co-accused Shubham and others. He told police he created bank accounts, procured SIM cards, and handed over bank kits for a monthly payment of Rs 20,000," the officer said.</p>.<p>Police said a team carried out extensive raids in Delhi-NCR over several weeks to trace Shubham, who kept switching SIM cards to avoid detection. He was finally arrested in Tilak Nagar on Saturday.</p>.<p>"The team recovered a laptop, two mobile phones, five chequebooks, and six debit cards from his possession. During questioning, Shubham disclosed the syndicate's deeper financial network, which included multiple shell companies," the officer said.</p>.<p>"He further claimed that he received USDT and sold it to a Chinese handler, creating a repeated laundering cycle," the officer added.</p>.<p>USDT is a type of cryptocurrency, which is supposed to maintain a stable value pegged 1:1 to the US dollar.</p>.<p>Police said Shubham destroyed cheque books and broke the SIM card registered in the company's name after learning about Lakshay's arrest. Further investigation is underway. </p>
<p>New Delhi: The Delhi Police has busted a multi-state cyber syndicate with suspected Chinese links that allegedly cheated a senior citizen of over Rs 33 lakh through an online investment scam, an official said on Sunday.</p>.<p>Police said a 61-year-old man has filed a complaint stating that he had been duped in a fraudulent digital investment scheme.</p>.<p>"Technical analysis revealed that the money had been routed through multiple layers of beneficiary accounts, eventually landing in the bank accounts of a fake private limited company," a police officer said.</p>.<p>The officer further said two people linked to the fictitious firm were identified as Shivam Singh from Uttar Pradesh's Faizabad and Lakshay, a resident of Delhi.</p>.Delhi CM announces Rs 1.5 crore prize for cricketer Pratika Rawal.<p>"Lakshay was arrested on November 19. During interrogation, he admitted to opening a firm account on the instructions of co-accused Shubham and others. He told police he created bank accounts, procured SIM cards, and handed over bank kits for a monthly payment of Rs 20,000," the officer said.</p>.<p>Police said a team carried out extensive raids in Delhi-NCR over several weeks to trace Shubham, who kept switching SIM cards to avoid detection. He was finally arrested in Tilak Nagar on Saturday.</p>.<p>"The team recovered a laptop, two mobile phones, five chequebooks, and six debit cards from his possession. During questioning, Shubham disclosed the syndicate's deeper financial network, which included multiple shell companies," the officer said.</p>.<p>"He further claimed that he received USDT and sold it to a Chinese handler, creating a repeated laundering cycle," the officer added.</p>.<p>USDT is a type of cryptocurrency, which is supposed to maintain a stable value pegged 1:1 to the US dollar.</p>.<p>Police said Shubham destroyed cheque books and broke the SIM card registered in the company's name after learning about Lakshay's arrest. Further investigation is underway. </p>