Uttar Pradesh Duo Arrested for Defrauding Investors of Rs 70 Crore

n a significant breakthrough, two residents of Uttar Pradesh were arrested for their involvement in a massive investment scam that defrauded people of crores of rupees. Vinod Kumar Dhama and Ravindra, also known as Nawab, were apprehended by the Special Task Force (STF) of the Uttar Pradesh Police from a residential society in Ghaziabad.

According to Rajkumar Mishra, Superintendent of Police (STF, Noida Unit), the suspects, hailing from Baghpat district, are part of an organized gang that promised investors high returns of 10 to 15 percent per month on stock investments. The gang targeted individuals across multiple states, including Uttar Pradesh, Delhi, Haryana, Rajasthan, and Hyderabad.

The STF revealed that the duo, along with other accomplices still at large, had defrauded over 500 victims, with the total amount siphoned off exceeding Rs 70 crore. The authorities are continuing their investigation and are searching for additional members of the syndicate.

The arrested suspects have confessed to their roles in the scam, and further inquiries are ongoing to track down the full extent of the fraud and its other perpetrators.

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