Fraudster wanted in 5 states for duping investors by promising high returns, arrested in Jamnagar

The fraudster posed as a staff of a forex company and promised people a 4-5 percent interest in a day or two if they traded in foreign currency. People were asked to download an application and open accounts. After displaying profit initially, the money used to be deduced from their accounts through online transfer.

Jamnagar (Gujarat): The Jamnagar Police arrested a youth from Surat who is wanted in five states for defrauding people on the pretext of investment. Police were on the search for the accused for a year. Amir Sohail alias Armaan Memon was finally nabbed during a special raid conducted by the police.

Based on a tip-off, police reached Surat and searched him for four days. They got information that the accused was residing next to Zainab Hospital in Rander in Surat. A raid was conducted in the area and the accused was finally arrested.

Posing as an employee of a forex company, the accused promised people a four to five per cent interest per day if they traded in foreign currency. The accused opened asked customers to open bank accounts and took away Rs 9.19 lakh from two investors through online transfer. One of the victims lodged a complaint with the Jamnagar Cyber Crime Branch against the accused and an investigation was initiated under superintendent of police Premsukh Deluon in this connection.

After investigating the matter for a year and a half along with technical analysis of the transaction, police learnt that the mastermind of the scam was in Surat. The gang cheated people on the pretext of trading in foreign currency. It had set up an illegal call center and duped investors by identifying themselves as employees of a forex company.

After taking the investors into confidence, the gang duped them by promising high returns. The investors were asked to download some bogus investment applications and create accounts in them. After depositing money, the account created in the fake application initially displayed profit within a day or two. But, later the amount used to be siphoned off by the gang.