India, Dec. 19 -- The Delhi Police arrested nine men from five different states for allegedly running an investment fraud and cheating hundreds of victims of more than Rs.16 crores, said police Thursday.

The accused were caught from Kerala, UP, Delhi, Karnataka and Andhra Pradesh after a month-long operation and raids. Police said they were involved in making social media accounts to cheat the victims and also provided bank accounts to receive cheated funds.

According to police, one of the complainants came forward in September stating details of an investment fraud in which the accused lured multiple individuals on social media platforms and impersonated investment companies. They assured returns to the victims but cheated all the vict...