One of the biggest secrets has been unearthed in the Special Task Force (STF) investigation of a 2280 crore fraud case in Madhya Pradesh. The extent of the fraud has exceeded the mark of 2,300 crores worth as the investigation continues. STF has found out how the accused has used the money secured in a fraudulent manner to create a financial empire in Dubai. Investigative sources that participated in the research have found out that the accused have bought several of their homes in Dubai with illegal money.
The Enforcement Directorate (ED) has presently made a formal investigation into the case in response to these developments. Police are soon likely to put out a lookout for the accused. Madhya Pradesh Police is in close touch with the central authorities and is trying to establish the process of extradition of the accused to Indian soil.
A total of ten states have experienced a trail of the scam with hundreds of unsuspecting victims. To date, 17 persons are accused of the case. Only two of them, Madan Mohan Kumar and Deepak Sharma, have been successfully arrested by the police. The rest run at large.
According to investigations, the defendant engaged in the trick mainly with the help of the social network messenger Telegram. They would tempt individuals with chances of getting good returns on their investment, whereby they would offer up to 6 percent to 8 percent in profits monthly. Victims were misled into depositing their savings on the promise that they could get high returns.
What is most startling is that the whole business was operated with no physical office in any location in the nation. The scammers conducted their business fully online, and the victims had no easy time tracing them or checking their validity. The case reminds us of the increasing risk of financial fraud through the use of technology, causing concerns about the necessity of even more intensive digital surveillance and the concerns of the population.
Join our whatsapp group for Latest updates
Click Here for Chhattisgarh News
Click Here for Entertainment News