₹2,200 Cr Investment Fraud: STF To Take Help Of Central Agencies To Find SA, Dubai-Based Kingpin

Bhopal (Madhya Pradesh): The special task force of police will take help of central agencies to track mastermind of ₹2,200-crore investment fraud, officials said here on Tuesday.

After the arrest of two criminals by STF, the investigation agencies are in search of mastermind. The kingpin appears to be running the fraudulent business sitting from Dubai and South Africa.

The arrested gang members Madan Mohan Kumar and Deepak Sharma who cheated people of ₹2,283 crore through this gang in 12 states including MP have told STF that the kingpin ran gang from abroad.

Kumar and Sharma said they were just agents and more than 100 agents like them were active across India.

The STF has come to know that the kingpin has prepared passports in two names. One is used in Dubai and another is used in South Africa. Special Task Force SP Naveen Choudhary told Free Press that STF was collecting evidences related to the scam.

He added that the operators of scam were hiding in Dubai and other parts of the world. STF will now contact central and international agencies in preparation for issuing a lookout notice. “With help of central agencies, an alert will be issued against them and they will be arrested accordingly”, he said.

Kingpin: Ex-basketball coach

According to STF, the kingpin is running a network of cyber fraud for last two years and formed companies in different names in different states to deceive people.

The kingpin is originally from a village in Ghaziabad who shifted to Muzaffarnagar a decade ago. He had opened a basketball coaching centre and also worked in a factory.