Delhi: 11 arrested for duping lakhs of 150 cr in mobile app fraud

The Delhi Police's Cyber Cell has arrested 11 men, including two charted accountants, for allegedly cheating more than five lakh people of over ₹ 150 crore in a mobile app scam.

Police said that the accused duped people on the pretext of providing lucrative returns on two mobile applications.

A total of ₹ 11 crore of the cheated money has been blocked in various bank accounts and payment gateways, they said.

Police took notice of various posts on social media by people from across the country about two mobile apps - Power Bank and EZPlan. These apps offered lucrative returns on investment, a senior police officer said.
The CAs created over 110 shell companies and sold these companies to some Chinese nationals for ₹ 2 to 3 lakh each, police said.