After the multi-crore cryptocurrency scam rocked the state, the Mandi police have uncovered a Forex trading scam, estimated to be more than ₹210 cro
After the multi-crore cryptocurrency scam rocked the state, the Mandi police have uncovered a Forex trading scam, estimated to be more than ₹210 crore.
Police have arrested two people in connection with the scam, one from Delhi and another from Haryana, Mandi superintendent of police (SP) Soumya Sambasivan told the reporters.
The fraud was carried out under the name of QFX brand and spans across Punjab, Haryana, Chandigarh, Himachal Pradesh, Delhi, Gujarat and Goa.
The company had been operating in Mandi since July 2021, with offices in Sadar and Nagchala. The SP added that police have sealed the offices of the fraudsters at Nagchala and Zirakpur.
She said one of the accused, who was trying to flee the country, was arrested from Delhi Airport, adding that the kingpin of the fraud is still at large and efforts are on to nab him.
Sambasivan said the accused lured depositors with promises of 60% returns on their investments, and duped approximately 100 people in Mandi district.
Upon receiving complaints from depositors, the police initiated an investigation, uncovering the fraud across seven states, with a significant portion originating from Mandi district. The police have frozen ₹30 lakh belonging to the accused, and efforts are underway to seize their properties located in different states.
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