Major Breakthrough in Forex Fraud Case, Accused Brought to Nagpur
Nagpur Police arrest key accused in a large-scale forex trading scam from Kolkata. The accused, involved in fraudulent investments promising 5-15% returns, has been remanded to police custody for further investigation.
by Nagpur Trends Team | Published on 2024-09-17 13:45:16
Nagpur, India: In a major development, Nagpur's Economic Offences Wing (EOW) arrested Viraj Suhas Patil, one of the key accused in a large-scale forex trading scam, from Kolkata. The fraud involves fraudulent investments in forex, stocks, and cryptocurrency, duping multiple victims of their hard-earned money.
The case, registered at Nandanvan Police Station (Case No. 94/2024), revolves around Suraj Savarkar, who operated under the banner of IX Global. The company claims to offer online education in forex trading, stock markets, and cryptocurrency markets. Savarkar allegedly lured the complainant and several of their friends into investing in online forex trading, promising returns of 5-15%.
According to police reports, the accused provided multiple account numbers from Canara Bank’s Kolkata branch under fake company names like Pintraders, Mtraders, Green Valley Agro, and TM Traders. Victims were instructed to deposit money into these accounts for investments through broker websites "PinGlobal" and "FX."
However, when the complainants attempted to withdraw their invested amounts, they could not recover the funds, realizing they had been defrauded.
The police have charged Savarkar and his associates under several sections, including 420 (cheating), 406 (criminal breach of trust), and 34 (acts done by several persons in furtherance of common intention) of the Indian Penal Code, along with Section 66D of the Information Technology Act and Section 3 of the MPID Act (1999).
Viraj Suhas Patil, who was already incarcerated in Kolkata Central Jail due to a separate Enforcement Directorate (ED) case, was officially arrested by the EOW team in this case. He was brought to Nagpur after completing all legal formalities. Presented in court, Patil was remanded to police custody for three days for further investigation.
The operation was led by Deputy Commissioner of Police (DCP) Archit Chandak, with Inspector Bharti Gurnule and her team, including officers Sharad Kokate, Gajanan Giri, Yogesh Nighot, Yogita Potbhare, and Mangesh Gaurkar. The Nagpur EOW is continuing its investigation to uncover further details of the scam and identify any additional victims or co-conspirators.