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The arrested accused have been identified as Pooran Singh Chauhan (25), Narendra (32), Dharmender (21) from Rajasthan and Dharmaveer (24) from Haryana.
It is said that the gang used to place advertisements on dubious web pages impersonating leading packers and movers firms.
The scam came to light after a complaint was filed by a man named Ashfaq Hussain.
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Soon after, Hussain handed over the bike to them but it was not delivered on the given date. When he contacted the firm, they demanded another Rs 20,000.
He then filed a police complaint on June 22. The accused have been charged under section 66D ( using communication device or computer resource cheats by personation) of the IT act.