Bank Deputy Manager Held in ₹20.72L Share-Market Scam
Three people, including a deputy manager of a private bank, have been arrested in connection with an alleged ₹20.72 lakh share-market investment fraud in Delhi. The arrests were made by the North-West District Cyber Police after a complaint from a man who said he was lured into investing money with promises of attractive stock-market returns.
The accused have been identified as Kanhya Das, Rahul Tailor and Arif Hussain Mansuri. Mansuri was working as a deputy manager at a private bank in Rajasthan. Police also recovered four mobile phones allegedly used in the operation.
According to the complaint, the victim was persuaded to transfer a total of ₹20.72 lakh into accounts specified by the fraudsters. After the promised returns failed to materialise and the money could not be recovered, the victim approached the police. An FIR was registered on February 27, 2025, under relevant provisions of the Bharatiya Nyaya Sanhita.
The investigation focused heavily on the money trail. Police found that the cheated funds moved through multiple bank accounts before being withdrawn through self-cheques and transferred further, allegedly to make the origin of the money harder to trace.
Investigators traced the financial transactions and technical evidence to Rajasthan. Kanhya Das and Rahul Tailor were arrested from the Mavli area of Udaipur district on May 23, police said. Their interrogation and digital evidence subsequently led investigators to the bank deputy manager.
Police allege that Das provided his bank account to receive money generated through the fraud, while Tailor allegedly handled cash withdrawals through self-cheques and transfers to other accounts. Approximately ₹2 lakh from the present fraud was reportedly routed through Das’s account, which investigators described as a second-layer account used to obscure the money trail.
The alleged involvement of the bank official is particularly significant. Investigators say Mansuri helped arrange access to a bank account in return for a 2% commission, allegedly facilitating the banking infrastructure required by the fraud network. He had reportedly been working at the concerned branch since April 2024.
The case illustrates how fake investment scams can extend beyond the initial deception of victims. Once money enters the financial system, fraud networks can allegedly use mule or layered accounts, cash withdrawals and intermediaries to complicate the trail and distance the principal perpetrators from the victim’s money.
The Delhi Police investigation is continuing, including verification of the complete financial trail and the possible involvement of additional persons. Police also said Tailor had previously been linked to a cyber-cheating case registered in Himachal Pradesh’s Parwanoo.
The arrests, however, represent allegations at the investigation stage; guilt will ultimately have to be established through the judicial process. The case also highlights the growing concern around fraudulent stock-market investment schemes that exploit the credibility of banking and financial channels to convince victims that the investment opportunity is genuine.
