India, Oct. 28 -- A Delhi-based chartered accountant who thought he was making smart stock investments ended up losing more than Rs.47 lakh to a slick online trading scam that police have now traced to three men working for a Chinese handler.

On Monday, Delhi Police's Crime Branch said they arrested three men - Sahil Yadav, 25, Aryan, 22, and Ashish Kumar alias Jack, 36 - all from Bihar, who allegedly created a maze of fake accounts and a shell company to launder money from unsuspecting investors.

Deputy commissioner of police (crime branch) Aditya Gautam said the trio ran a front called Bubai Instant Shop OPC Pvt. Ltd. to funnel the funds. The arrests followed an e-FIR lodged in June, after the chartered accountant realised he had been...