New Delhi, Dec 10 (PTI) Delhi Police has busted a cybercrime racket with the arrest of a 21-year-old youth who had direct links with Chinese handlers via social media, officials said on Monday.

"On September 27, Gule Raj (25), an accountant from Bawana, lodged a complaint alleging a financial fraud of Rs 1.42 lakh. The victim was lured through social media with the promise of high returns on stock investments," a police officer said.

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During probe, the cybercrime unit of Delhi Police traced the fraudulent transactions to a person named Alish Nazmuddin Hirani, who was arrested from Surat, he added.

"During interrogation, Alish confessed to working for Chinese handlers to create and supply fraudulent bank accounts for laundering illicit funds. He also admitted to converting the stolen amounts into cryptocurrency via hawala channels and transferring them to his handlers in exchange for commission," the officer said.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)