India, June 15 -- Delhi Police has busted an online investment fraud racket involving transactions worth around Rs.1.56 crore and arrested two accused persons from Uttar Pradesh, officials said on Monday.

The accused, identified as Mohammad Sadik (32) and Javed Ansari (34), allegedly used mule bank accounts to receive and transfer money cheated from victims through online investment scams.

The case came to light after a woman from Delhi's GTB Enclave filed a complaint stating that she was duped of Rs.21 lakh after being lured through a fake stock market investment advertisement on social media.

Police said the victim was added to a fraudulent online group where scammers posed as investment experts and promised high returns. After she i...