500 People And Fraud Of 70 Crores, Leader Of Such Thugs Arrested In Ghaziabad

Both thugs in custody of UP STF

UP STF team has arrested two cyber thugs from Mohan Making Campus located in Vasundhara Sector-5, Ghaziabad. These fraudsters lured people with 10 to 15 percent interest profit on investment by explaining their company’s scheme. After collecting enough money, he would close the company and run away. So far these fraudsters have cheated more than 500 people to the tune of around 70 crore rupees. The fraudsters have been identified as Ravindra alias Nawab, a resident of Pavla, Baghpat. These fraudsters said during the STF interrogation that they have carried out such incidents not only in UP, but also in Haryana and Delhi apart from Telangana but many more.

While tracing the whereabouts of these fraudsters, the STF team recovered six mobile phones with their company account numbers and other documents. According to STF officials, these fraudsters opened a company in the name of Kalp Vriksha Trading Master Technology Private Limited and Hot Security Limited in Noida Sector-63. He made a large number of people invest in these companies. After which both closed the company and fled to Thailand.

Learned chain networking at M-way company

Now after his return, he has been caught on the tip of an informer. According to Additional SP of STF, Vinod learned share trading in American company M-Way, after which he started his own company Kalp Vriksha Trading Master Company with Praveen Dhama two years ago. Khan was made director. He said that these fraudsters used to cheat through chain marketing. In this, these people would ask not only one person to invest, but two other people to invest by offering him a huge profit. Similarly a long chain was prepared. In this, each investor was given a target.

Also read this

Scam of profits in the scheme

The accused used to explain the scheme to people in such a way that people would easily fall into their clutches. After this the accused again lured him that he would get 10 percent profit if he brings at least two investors. At the same time, when two more investors are added to the investors brought by him, he will get profit in that too. In this way, he will get a profit of Rs 14 thousand on his own investment of Rs 10 thousand. According to the STF, cases have already been registered against the fraudster Vinod in Gautam Budh Nagar, Udyog Nagar Sikar Rajasthan and Hyderabad.