Surat. Surat Cyber Crime Cell of Gujarat arrested Alpesh Vaghasia, the main accused in the international trading fraud racket, from Surat International Airport. The accused was operating the entire network sitting in Dubai by defrauding crores of rupees in the name of share trading and currency trading.
A shocking thing has come to light about Alpesh Vaghasia, the main accused in the trading fraud racket, that Alpesh has studied only till 9th class, but he has set up a cyber network with transactions worth around Rs 1500 crore.
Arrested as soon as he returned to India from Dubai Alpesh Vaghasia was living in Dubai for a long time and running his fraud network. However, due to the deteriorating conditions there and the war-like situation, he wanted to leave Dubai and return to India. Due to not knowing English, he was facing difficulty in living abroad.
As soon as he reached Surat airport in an attempt to return to India, the cyber crime team arrested him on the basis of the already issued Look Out Circular (LOC).
To dodge the police, he had booked flights to Surat thrice, but they were cancelled. Later he first went to Bangkok and from there via different routes reached Surat, where he was caught. The accused is originally a resident of Gondal in Rajkot district and lived in a luxurious bungalow in Velanja area of Surat.
Transactions worth more than Rs 1500 crore in bank accounts
Investigation revealed that transactions worth Rs 15,36,30,08,975 were made in various bank accounts of this gang. Even the investigating officers were surprised to see such a huge amount. Now the police is trying to find out where this money came from and to whom it reached.
The accused had opened luxurious offices in Uttaran and Rajkot of Surat. Multi-level marketing (MLM) schemes were run here under the names Ivy Trade and Sky Growth Wealth Management.
People were lured to make high profits in currency and share trading without any valid license. Investors’ money was sent to Dubai through the bank accounts of Angadiya and shell companies.
35 investors defrauded of Rs 4.26 crore
In the investigation so far, 35 investors have come forward, from whom a total amount of Rs 4 crore 26 lakh 86 thousand 550 has been defrauded.
Police fear that the number of victims may increase further. Through online apps like Hantech Markets, the accused showed people that their trading was going on, whereas it was just a digital illusion.
Four accused have already been arrested
In this entire matter, DCP Bishakha Jain said that Surat Cyber Crime had already arrested Danish alias Hemal Dhanak, Jaisukh Patolia, Yash Patolia and Ajay alias Gopal Bhindi in this case.
All these partners used to maintain offices in Surat and Rajkot and send all the financial reports to Alpesh. It was during the interrogation of these four accused that the police got information about the money trail related to Alpesh Vaghasia’s Dubai connection and investments.
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