India, June 16 -- The Delhi Police busted an online investment fraud racket linked to transactions worth around Rs 1.56 crore and arrested two men accused of operating mule bank accounts used to channel money obtained through cyber frauds, officials said on Monday.

The arrests were made by the Cyber Police Station in Shahdara during the investigation of a case in which a Delhi woman was allegedly cheated of Rs 21 lakh through a fake online investment scheme. DCP Shahdara Rajendra Prasad Meena said the accused were identified as Mohammad Sadik, 32, from Moradabad, and Javed Ansari, 34, from Amroha in Uttar Pradesh.

The case was registered on April 9 after a woman from GTB Enclave approached authorities alleging that fraudsters posing as ...