3 held in cyber fraud cases involving retired Army officers, crypto scam

3 min readPanchkulaJul 17, 2026 09:05 PM IST

Commissioner of Police Pankaj Nain urged the public to verify investment offers before transferring money and cautioned against schemes related to cryptocurrency, stock trading or online investments. (File photo)

The Panchkula police arrested three persons in connection with separate cyber fraud cases involving fake cryptocurrency trading, bogus stock market investments, and online investment schemes, while two other accused were sent to judicial custody after completion of their police remand on Friday.

The arrests were made by the Cyber Crime police station, Sector 20, as part of an ongoing probe into alleged interstate cyber fraud networks. The accused were traced through technical surveillance, analysis of bank transactions, and digital evidence, police said.

DCP (Crime and Traffic) Amarinder Singh said the accused, during interrogation, disclosed details about fake bank accounts, SIM cards, digital wallets, money trails, and other alleged associates. Further arrests are likely, he added.

In the first case, police arrested Vishnu alias Billa, a resident of Fatehabad, and Surya, a resident of Hisar, for allegedly duping a victim of Rs 83.22 lakh on the pretext of cryptocurrency trading. According to police, the victim’s son was contacted through social media and persuaded to invest on a fake cryptocurrency platform, with the money routed through multiple bank accounts, UPI IDs, and fraudulent websites. Both accused were remanded in police custody for four days by a court.

In the second case, Ajay Kumar was arrested for allegedly cheating a retired Army colonel of Rs 2.34 crore through a fake investment app, WhatsApp groups and promises of high returns in the stock market. He was remanded for two days in police custody, while co-accused Nishant was sent to judicial custody after completion of his police remand. Police said the investigation has revealed links to an alleged interstate cyber fraud network.

In the third case, Sonu, a resident of Hisar district, was arrested for allegedly cheating a retired Army Lieutenant Colonel of Rs 10.58 lakh through a fake investment scheme. After completion of his three-day police remand, he was produced before a court and remanded to judicial custody. Police said efforts are underway to identify other members of the alleged network.

Commissioner of Police Pankaj Nain urged the public to verify investment offers before transferring money and cautioned against schemes related to cryptocurrency, stock trading or online investments circulated through social media, WhatsApp, YouTube or other digital platforms.