The police arrested Ejaz Chauhan (24) and his cousin Faizan Jamadar, both residents of Gir-Somnath district. Both were wanted for the last six months after police had arrested Mohammed Khatik, one of the accused, from Nandurbar in Maharashtra.
Investigators said the gang, which is suspected to have several members across India, had made a mobile application ‘tradeshotfx’ through which they lured people into investing in forex.
The fraud came to light after a Class-2 senior government employee lost Rs nine lakh and registered the complaint. Of this amount, Rs six lakh was deposited into Ejaz’s account.
Ejaz had registered a fishing company with the name of Empire Trading with the local municipality, based on which he opened a current account in a private bank in Veraval. He handed over the signed cheque of this account to his Faizan and the debit card of this account was with their ‘operator’ living in Surat.
The middleman in Surat and the mastermind of this scam are still at large.
Talking to TOI, PP Jha, police inspector of cybercrime, Jamnagar said, “We froze Ejaz’s account eight months back, and then the transaction worth Rs two crore were registered in this account in just three months. We believe that it’s a very big scam and these people are small fishes.”
Faizan used to withdraw the money…
