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The Delhi Police has busted a cybercrime syndicate with the arrest of five people allegedly involved in defrauding more than Rs 4 crore through fake investment schemes, officials said on Monday.

The accused have been identified as Vikram (40), Mukul (33), Akshay (29), Hari Kishan Singh (38), and Mangu Singh (27), they said.

Police said the gang was operating a large-scale investment fraud racket, promising high returns through stock and IPO investments. The cheated money was routed through multiple mule accounts and converted into cryptocurrency before being transferred to wallets controlled by handlers in Cambodia, Deputy Commissioner of Police (Southwest) Amit Goel said.

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