Delhi Police’s Intelligence Fusion and Strategic Operations unit has arrested five people in a cyber fraud investigation involving Hero FinCorp. Police said 317 unauthorised digital transactions worth about ₹12.84 crore were transferred from the company’s corporate bank account through 34 accounts. Investigators traced the alleged money trail using bank records, transaction data and mobile phone evidence. Authorities have placed holds on around ₹1.7 crore in accounts linked to the investigation. Police are also examining alleged cryptocurrency and Telegram connections as the probe continues.

Hero FinCorp Cyber Fraud Probe Leads to Five Arrests Over Rs 12.84 Crore Transactions

Delhi Police IFSO unit arrests 5 in alleged cyber fraud targeting Hero FinCorp, crypto transfers, funds traced through 34 accounts.

The Hero FinCorp cyber fraud case is linked to 317 unauthorised digital transactions worth Rs 12,84,09,997, which were allegedly transferred out of the company's corporate bank account.

Five people, including a relationship manager of RBL Bank in Jaipur, Vikas, were arrested by Delhi Police’s Intelligence Fusion and Strategic Operations unit, officials said.

The probe was initiated after detection of unauthorised debit transactions by Hero FinCorp Ltd., a registered non-banking financial company, through system alerts generated by HDFC Bank.

The transactions, the company’s complaint said, were carried out without the knowledge, consent, instruction or authorisation of its management, via 34 accounts.

On August 21, police registered FIR No. 135/26 under sections 308, 318(4), 319 and 340 of the Bharatiya Nyaya Sanhita.

Police Trace Money Across Multiple Accounts

During the investigation, the IFSO team analysed bank records, transaction trails and mobile phone data before raiding several places across India.

The investigation is ongoing, and the authorities have placed a lien or hold on some Rs 1.7 crore in fraudulent accounts, saving a part of the allegedly diverted funds.

The arrested persons have been identified as Abhay Kumar Solanki, Bulandshahr; Lovely, Kurukshetra; Naman Kumar, Jaipur; Harman, Bikaner; and Vikas, Jaipur.

While Rs 60,000 was credited to Solanki’s account and withdrawn through an ATM, Rs 80 lakh was deposited in the account of Lovely’s Property Gallery, police said.

Lovely is said to have opened the Central Bank of India account at Thanesar, Kurukshetra after being approached by Satyam of Cheeka in Kaithal, who is still absconding.

Naman allegedly had an account in Jaipur with Yes Bank for Infirmity Services, which received Rs 40 lakh and another account with IndusInd Bank, which received Rs 70 lakh.

Police said 43 complaints filed across India on the National Cybercrime Reporting Portal had been linked to Naman’s IndusInd Bank account.

Naman was introduced to Harman through Vikas, investigators said. The APK file was downloaded on Naman’s mobile phone, and Harman allegedly took over Naman’s account.

Allegedly, Naman was introduced to Sourav, a resident of Delhi. Later, he stayed at a hotel in Krishna Nagar, where his Yes Bank account was allegedly run in a similar fashion.

The police said that Harman had approached several Chinese groups through Telegram and was in direct contact with Devender Singh Chauhan of Udaipur, Rajasthan.

Chauhan is said to have exchanged a portion of the cheated money into cryptocurrency USDT and transferred it to fraudsters abroad, investigators said.

Police said Harman worked on a commission basis for Naman’s bank account and received around Rs 1.5 lakh from Chauhan for assisting in transactions related to the suspected network.

Also Read: ED Raids former Haryana minister Gopal Kanda Residence, Farmhouse in Vatika Money-Laundering Case

Investigation Expands Beyond Five Arrests

Delhi Police investigators say Vikas helped Naman open accounts with Yes Bank and IndusInd Bank and later introduced him to Harman.

Police seized cheque books, five mobile phones and rubber stamps with the Property Gallery name during searches, officials said, as evidence collection continues.

The suspected operation was organised and trans-state, with systematic movement and laundering of proceeds through multiple financial accounts and cryptocurrency channels, the Delhi Police said.

Investigators have also identified other alleged members in India and Dubai and are working to trace their role and make additional arrests in the case.

For Sprouts News, the case shows how corporate-account fraud can involve layered bank transfers, intermediary accounts, encrypted communications and cryptocurrency-based movement across jurisdictions.

Authorities are still on the trail of the remaining funds, and the investigation is ongoing, with the charges against those arrested yet to be tested in the courts of law.