Mastermind of Forex Fraud Syndicate caught by Delhi Police, had committed fraud worth lakhs

Delhi News: Delhi Police has arrested an accused mastermind who was running a forex fraud gang spread in several states. According to the police, this gang has defrauded traders, professionals and travel companies of lakhs of rupees in the name of lucrative foreign exchange deals.

This is the identity of the accused

The arrested accused has been identified as Krishna Kumar Sharma, who was also wanted in a fraud case registered in Kolkata. There he had duped a person of 15,000 US dollars and 1,000 Euros by luring him with a forex deal, the total value of which is around Rs 14.5 lakh.

This is how he used to commit fraud

Police investigation revealed that accused Sharma used to commit fraud in a very organized manner. Sometimes he would pretend to be a Forex trader, and sometimes he would win people’s trust by pretending to be someone associated with the film industry. He would arrange meetings in five-star hotels, where he would be accompanied by bouncers, make-up artists and many associates. This entire setup was prepared in such a way that the person in front felt that a big entertainment project was being discussed.

used to change sim card frequently

The gang’s methods were very precise. After taking dollars or euros from the victims in the hotel room, the entire gang would escape through the back door. During the fraud, the accused used to use multiple mobile phones, changed SIM cards frequently and traveled by air immediately after the incident. Police also said that the gang also kept items like pepper spray and chloroform with them, so that the victims could be controlled if needed.

Warrant was issued on 6th December

Kolkata Court had issued a warrant against Sharma on 6 December. On the same day, Delhi Police caught him from Uttam Nagar through technical surveillance. A case of 2024 is also registered against Sharma in Delhi, in which he allegedly ‘hypnotized’ a person who had brought $25,000 by making him drink water and his money went missing.

team engaged in investigation

According to the police, Sharma has previously been involved in several fraud cases in Mumbai and Delhi. After suffering losses in the event management business during the pandemic, he started forex fraud on a large scale. At present, the accused has been arrested and the police is engaged in further investigation.

Also read: CBI arrests main accused in cyber fraud case targeting Japanese citizens