Forex Trading Scam: Two Arrested Over Forex Trading Scam

Mumbai: The unit 8 of the city crime branch has arrested two persons who were allegedly running a fake call centre in Vile Parle and cheating people by luring them to invest in online forex trading through certain apps. The accused have cheated more than 100 people to the tune of Rs 30 to 40 lakh, police said.A crime branch team led by Laxmikant Salunke raided the makeshift office — First Capital — at Vile Parle and arrested Arbaz Rafiq Shaikh and Ashish Shekar Nadar. Police are looking for the mastermind, Aman Aslam Patel, a resident of Jogeshwari. “The accused promised huge profits and once an investor was convinced, they would ask him to download some apps and invest. The apps would show them a profit in 22 days but when they wanted to encash their investment they learnt they were duped,” said an officer. —S Ahmed Ali

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