Delhi Police have arrested two men in connection with an alleged bank fraud in which ₹22.56 lakh was transferred from a company account after bank officials were contacted by a caller posing as a company director. Police said they recovered assets worth about ₹2.50 crore, including gold, cash and a Mahindra Thar Roxx vehicle.
The accused were identified as 36-year-old Vinay Kumar Yadav, a resident of Loni in Ghaziabad, and 65-year-old Anil Kumar Sehgal of Noida. They were arrested from Loni during an investigation by the Central district police. According to police, Yadav was also a proclaimed offender in another case and had been absconding for more than seven years.
The case was registered after the manager of Bank of India’s Rajendra Place branch filed a complaint. Police said that on 5 August 2026, a caller introduced himself as Deepak Malhotra and spoke to bank officials while claiming to be a director associated with several companies. He first discussed creating a fixed deposit receipt of ₹1 crore and then referred to higher interest rates available at other banks.
After establishing contact with the bank officials, the caller allegedly said that a payment had to be made from the company’s account but that its cheque book had been exhausted. He then requested that the payment be processed through email. Police said the accused used an email address resembling the company’s registered email account and sent payment instructions on a company letterhead.
The instructions sought the transfer of ₹22,56,922 to another account. When bank officials asked for the required indemnity documents, the caller allegedly pressured them to complete the payment quickly. The money was subsequently transferred through the Real Time Gross Settlement system, police said. An e-FIR was registered at the Central district cyber police station on 5 August.
During the investigation, police traced the money to a Bandhan Bank account in West Bengal. Technical leads linked to the phone number and email account helped investigators identify the accused, according to the report. Police said the alleged network also had associates operating in West Bengal and Bihar.
Investigators said the group targeted bank officials through fake company letterheads, similar-looking email addresses and social-engineering tactics. After the money reached the accounts, it was allegedly withdrawn through other channels and used to purchase gold and other assets.
The recovered property includes 101 gold coins of different weights, 17 gold chains, nine gold bangles and bracelets, three necklaces, three rings, six earrings, one nose ring, one maang tikka, ₹2.37 lakh in cash, three mobile phones and a Mahindra Thar Roxx purchased in August 2026. Police are examining whether the recovered property is connected to the present case or other alleged frauds.
Following the arrests, police said they identified six other cases involving similar attempts to induce bank officials to transfer money from accounts. These cases were registered at cyber police stations in Gurugram, Palwal, Delhi’s South-East district and Rohini. The alleged amounts involved range from lakhs to crores of rupees. Further investigation into the wider network is underway.
