A cyber fraud racket inspired by the hit Netflix series ‘Money Heist’ has been busted by the Delhi Police, exposing one of the biggest online trading scams in recent times. Three men were arrested for running a nationwide operation that duped hundreds of people through fake investment platforms.
More than 400 complaints from across India have now been linked to the syndicate, and investigators believe the total fraud could be as high as Rs 150 crore.
The accused used codenames, secret groups, and tactics modelled on the show to conceal their identities and evade detection.
The investigation began with a complaint from Rohit, a resident of Gokalpuri, who reported that he had been cheated of Rs 21.77 lakh in a fake online stock trading scheme.
A case was registered at the Cyber Police Station (North-East District) on October 1. “The arrested accused have been identified as Arpit Mishra (25), a law graduate from Jaipur; Prabhat Vajpayee (22), a computer science postgraduate from Ghaziabad; and Md Abbas Khan (24), a resident of Imphal. The trio operated online under aliases inspired by Money Heist: Arpit as ‘Professor’, Prabhat as ‘Amanda’, and Abbas as ‘Freddy’. They believed the names made them appear more global and trustworthy to investors,” said the Deputy Commissioner of Police (Northeast District).
What started as a single case soon revealed a vast network of deception. Investigators found high-value transactions worth crores of rupees in the mobile phones and bank accounts of the accused. They had created dozens of fake WhatsApp and Telegram groups where they posed as financial advisors offering “exclusive trading tips”.
The gang lured small investors with promises of high returns and initially credited them with small profits to gain their confidence. Once larger investments were made, the victims’ accounts were suddenly frozen. Anyone who tried to withdraw funds was threatened or pressured to deposit more money under the pretext of “unlocking” their blocked amount.
The operation was meticulously planned. The group used encrypted messaging apps, fake bank accounts, and layers of mule accounts to transfer funds. They maintained multiple digital identities, used code words, and even named their WhatsApp groups after Money Heist episodes. “They treated fraud like a high-stakes game,” said an investigator associated with the case.
Two of the accused, Prabhat and Abbas, were first arrested from Sector-49, where police recovered 14 mobile phones, 20 SIM cards, 32 debit cards and several incriminating documents. Their questioning led to the arrest of Arpit “Professor” Mishra from Siliguri, West Bengal, who was managing the financial backend of the syndicate.
All three confessed to their role in the scam and admitted that they had drawn inspiration from Money Heist while building their cyber network. Arpit, a law graduate, acted as the mastermind; Prabhat handled the digital setup; and Abbas managed communication with victims through fake trading platforms.
The police are now analysing recovered data, bank transactions, and cryptocurrency records. More arrests are expected as the investigation widens across multiple states. Officials suspect that the gang may be part of a larger cybercrime network defrauding investors across the country.
