Mumbai crime branch raids fake call center
MUMBAI, INDIA—In a decisive move against financial fraud, the Mumbai crime branch successfully dismantled a fake call center operating in Malad and arrested 14 individuals involved in an elaborate investment scam.
These individuals posed as employees of a UK-based investment firm, luring victims with promises of substantial returns on investments.
Fraudulent investment schemes targeted unsuspecting investors
The gang primarily targeted individuals through online trading platforms, enticing them with the prospect of high returns.
According to officials, the scheme was designed to show fabricated profits to initially gain the victims’ trust.
“Once the victims invested money, the operators would manipulate the platform to show initial profits and later force victims to invest more for higher profit,” explained an officer involved in the investigation.
Manipulating investment returns
Victims were encouraged to reinvest larger sums after seeing initial gains. However, subsequent investments were manipulated to reflect losses, leaving investors without recourse.
“Later, when the victims invested further, the accused would again manipulate the numbers to show that they have incurred loss in their second investment,” added the officer.
This tactic effectively trapped victims in a cycle of deceit.
Years of fraud uncovered
The police revealed that this fraudulent operation had been deceiving people for several years. During the raid, authorities seized computers, laptops, mobile phones, and various documents linked to the scam.
These items are expected to provide further evidence and possibly reveal additional individuals involved in the operation.
Legal actions and ongoing investigations
The arrested individuals face charges under multiple sections of the Indian Penal Code (IPC) and Information Technology (IT) Act, specifically addressing cheating and forgery.
The Mumbai crime branch is also continuing its investigation to uncover any additional perpetrators and ensure justice for those affected by this elaborate scam.
Authorities urge citizens to remain vigilant against such fraudulent schemes and report any suspicious activities promptly. This bust comes amid heightened efforts by Mumbai’s law enforcement agencies to crack down on scam call centers across the city.
