Cops unearth forex scam with Dubai links, 3 arrested

Three people, including a sales manager at a private bank, have been arrested for alleged links with an inter-state syndicate involved in a large-scale forex trading scam operated by Dubai-based handlers, the police said on Monday.

The accused have been identified as Anurag Kumar, a mule-account provider; Zeeshan Syed, a sales manager at a private bank; and Himanshu Gupta, a key handler with involvement in cheating and forgery cases, a police official said. They were allegedly part of a network that created shell companies and opened multiple mule current accounts to layer and launder the proceeds of investment frauds, the police said. The gang lured victims through social media groups, using manipulated dashboards to display fictitious forex trading profits, a senior police officer said.

A handler, identified as Abdul, alias Vicky, was currently under the scanner, the police added. The accused were arrested in separate operations conducted in Delhi and Faridabad.

The syndicate allegedly cheated a victim of nearly Rs 40 lakh.