The Uttarakhand Special Task Force (STF) arrested two men from Delhi on Sunday, identified as Jagdish Bora and Kamlesh Bora, in connection with a multi-crore fraud operating in the Patel Nagar area. The duo faces multiple charges under sections 420, 506, 406, and 120B of the Indian Penal Code (IPC), as well as sections of the Gangster Act. Jagdish had a bounty ofRs25,000 on him, while Kamlesh had a reward of Rs10,000.
Residents of Pithoragarh, the Bora brothers allegedly ran a fraudulent investment scheme since 2019, enticing around 40-50 locals to invest in the stock market and other high-return ventures. Police estimate that they amassed approximately Rs25-30 crore by convincing victims that their investments would yield substantial profits once the market improved. In addition, they allegedly collected advance payments for purported low-cost land deals in Haldwani and Nainital.
An STF official noted, “The Bora brothers were believed to be part of a 17-member gang with multiple cases registered across various Pithoragarh police stations. Over the past two years, the STF conducted extensive intelligence-gathering and multi-state raids, which ultimately led to their arrests.”