INVESTMENT FRAUD: Money From Over 50 Cyber Fraud Cases Parked In Tainted Accounts, Says STF

Bhopal (Madhya Pradesh): Investigating the investment fraud scam busted only last week with the arrest of two accused, the Special Task Force (STF) has learnt that the money generated from 52 cases of cyber cheating is also parked in the accounts of companies connected to the fraud.

SP Naveen Choudhary shared the above information with the Free Press on Sunday. The victims of cyber fraud had filed their complaint on the Central Government’s website, following which, the transactions were blocked. After getting bank details, the STF will coordinate with the Centre about the money and the cases.

Earlier, the STF had busted the investment fraud scam of Rs 2,400 crore and had seized over Rs 100 crore deposited in various accounts of the alleged fraudsters. The two men arrested had claimed that they were merely agents.

Kingpin in Dubai, has property in UP

The kingpin of the scam is allegedly hiding in Dubai. Sources reported that over the past five years, he has amassed a substantial amount of money and purchased properties worth crores in various cities of UP.

A central agency has also conducted raids in Shamli, Uttar Pradesh, and seized property worth Rs 170 crore along with cash of Rs 90 lakh. The kingpin has allegedly bought most of the property in the name of his agents.

He has also bought 125 bighas of agricultural land in Ghaziabad, farm houses in half a dozen cities, and luxury cars in the name of agents and family members.