Indore: SIT formed for probing forex trading fraud case

Two more victims from Bengaluru and Nagpur identified, search is on for kingpin

Staff ReporterUpdated: Sunday, March 13, 2022, 01:27 AM IST
article-image
Representative Photo |

Indore (Madhya Pradesh): A special investigation team (SIT) was constituted for further investigation of the forex trading fraud case on Saturday. The police managed to contact two more victims of the accused—who duped people of crores of rupees on the lure of forex trading—on Saturday. The victims are from Bengaluru and Nagpur.

Additional DCP Rajesh Vyas said two accused, named Anil and Hardeep, were arrested for duping a person of Rs 10 lakh on the lure of investing his money in forex trading. For further investigations into the case, a SIT has been constituted by the DCP and it will be headed by ACP Nihit Upadhyay. TI Tahjib Kaji, a sub-inspector and two constables have been included in the SIT. During the investigations, the police managed to contact two more victims on the basis of the UPI transactions ID.

Vyas said he also spoke to the victims from Bengaluru and Nagpur over phone and told them to send the complaint through WhatsApp or to come to the city. Moreover, the police came to know that seven bank accounts used for receiving money were being checked. Cops believe that more victims will be identified during the investigations. Police are also trying to learn about the victims from the city.

The police came to know that the kingpin of the gang was a certain Atul, a resident of Jabalpur. The role of a woman was also found in the case. A search is on for Atul and the woman. The arrested accused were taken to their office by the Vijay Nagar police for the investigations on Saturday. The police said their employees were trained in a renowned hotel in Dubai.

Modus operandi

According to the police, the accused had prepared a dummy server for forex trading. They used to put out advertisements on social media to contact people. After contacting the people, they used to take money from them on the lure of forex trading and show a fake index of profit in dollars on their server to gain their trust. The money transferred by the victims went into the bank accounts of the accused. The police claimed that transactions of crores of rupees were found in a bank account. Other bank account details are also being gathered by the police.

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Daily Horoscope for Friday, August 12, 2022, for all zodiac signs by astrologer Vinayak Vishwas...

Daily Horoscope for Friday, August 12, 2022, for all zodiac signs by astrologer Vinayak Vishwas...

I may not be qualified enough: Pankaja Munde over missing out on cabinet berth in Maharashtra

I may not be qualified enough: Pankaja Munde over missing out on cabinet berth in Maharashtra

Mumbai Metro 3: Aarey depot speeding to April 2023 deadline

Mumbai Metro 3: Aarey depot speeding to April 2023 deadline

Malvani Building collapse: HC grants bail to owner who lost his nine family members

Malvani Building collapse: HC grants bail to owner who lost his nine family members

Mumbai: With no bidders for pothole tenders, BMC relaxes conditions to attract contractors

Mumbai: With no bidders for pothole tenders, BMC relaxes conditions to attract contractors