Bhopal (Madhya Pradesh): The two con men arrested by the Special Task Force for a ₹90 crore investment scam were produced in court and sent to 14 days’ judicial custody on Saturday. The STF was working on the information provided by the duo to identify and arrest the other members of the gang, SP Naveen Chaudhary said.
To note, on Friday the STF had arrested two members of an inter- state gang, identified as Madan Mohan Kumar and Deepak Sharma of Delhi. The scam came to light after Indore resident Ishan Saluja approached the police and complained that he was duped of ₹20.18 lakh on the pretext of returns on investments in Yorker Fx and Yorker Capital firms.
A special team was formed for investigation of the case. Investigation revealed that the gang was operating in Maharashtra, Uttar Pradesh, Madhya Pradesh, Tamil Nadu, Rajasthan, Himachal Pradesh, Assam and other states. The gang members had 12 cases registered against them in these states.
Further inquiry indicated that the accused forged balance sheets of the bank accounts of the different firms they were running. The firms were taking investments from people despite being not registered as payment aggregators at RBI, Securities and Exchange Board of India (SEBI) and NBFC. The firms used to open bank accounts in April and stop transactions before the end of the next financial year.
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STF officials said that the Enforcement Directorate was also investigating the illegal exchange of currency for trading into the forex market under the Foreign Exchange Management (FEMA) Act. The foreign connection of the kingpin of the gang was also under scanner, they added.
