Delhi Police Bust Bank Fraud Ring in Rajendra Place, Seize Assets Worth ₹2.5 Crore
Delhi Police have dismantled a financial fraud network operating across Delhi and Haryana following the arrest of two men who impersonated corporate directors to cheat public sector banks. The arrests, announced on Thursday, helped investigators solve six cases involving over ₹5.17 crore in fraudulent transfers, including a complaint originating from a bank branch in Rajendra Place.
The suspects were identified as Vinay Kumar Yadav and Anil Kumar Sehgal. According to police, the duo induced bank officials into transferring money into mule accounts through fraudulent RTGS transactions. Investigators seized assets valued at approximately ₹2.50 crore from the accused, including 1,500 grams of gold in the form of coins and ornaments, ₹2.37 lakh in cash, mobile phones, and an SUV purchased using the cheated funds.
Deputy Commissioner of Police (Central) Rohit Rajbir Singh said the arrests followed an investigation into a cheating, impersonation, and forgery case registered on August 5 on a complaint by the branch manager of a public sector bank in Rajendra Place. The caller initially discussed setting up a ₹1 crore fixed deposit receipt to gain the confidence of bank officials before executing the fraud.
The caller then sent an email to the bank’s official address using a deceptive domain that closely resembled the legitimate registered email ID of a corporate company. The email contained a forged payment request on the company’s letterhead, directing the branch to transfer ₹22,56,922 to a specified account. The bank subsequently processed the RTGS transfer for that amount.
A second fraudulent request for ₹13 lakh was halted in time when bank officials received a phone call from the actual director of the company. The director informed the bank that he had not authorised the previous transfer of ₹22,56,922 or submitted any fresh payment requests, prompting the branch manager to alert the police.
During the investigation, police discovered that the stolen funds were routed into a mule bank account opened at a private bank in West Bengal. Tracing the transactions led officers to Yadav and Sehgal. Interrogation of the suspects revealed that the cheated money was diverted and converted into gold, cash withdrawals via ATMs, and the purchase of an SUV.
Police said the six resolved cases were registered across Delhi and Haryana between May and October. Both accused have prior records of financial fraud across multiple locations, including Ghaziabad, Dasna, Saharanpur, Ayodhya, and Faridabad.
