Uttar Pradesh Residents Nabbed in Multi-Crore Investment Fraud

Two Uttar Pradesh residents have been arrested for defrauding people of over Rs 70 crore by promising high returns on investments. Vinod Kumar Dhama and Ravindra alias Nawab were apprehended by the Special Task Force in Ghaziabad. The investigation is ongoing to locate other gang members.

Two residents of Uttar Pradesh have been arrested for allegedly defrauding individuals of crores of rupees by promising high returns on investments, police announced on Monday. The suspects, Vinod Kumar Dhama and Ravindra alias Nawab, were apprehended from a residential society in Ghaziabad by the state police's Special Task Force (STF).

The STF (Noida Unit) Superintendent of Police, Rajkumar Mishra, stated that Dhama and Ravindra, from the Baghpat district, are part of a gang that enticed people to invest in stocks with the promise of 10 to 15 percent returns every month. Authorities are currently searching for other gang members.

Both suspects have admitted to defrauding over 500 people across Uttar Pradesh, Delhi, Haryana, Rajasthan, and Hyderabad, with the total amount defrauded exceeding Rs 70 crore, according to Mishra.

(With inputs from agencies.)