Gujarat: Multi-state dabba trading racket busted
The victims are believed to be from Gujarat, Rajasthan, Punjab, Haryana, Maharashtra, and Andhra Pradesh.
2 min read
The police investigated the matter following 37 complaints and several FIRs from other states. As many as 54 persons were said to be involved in the racket. (File Photo)A Special Investigation Team (SIT) under the Gandhinagar Range of Gujarat Police busted an alleged national-level dabba-trading racket with transactions amounting to Rs 27.81 crore, officers said. Dabba trading implies an illegal and unregulated form of trading in securities.
The police investigated the matter following 37 complaints and several FIRs from other states. As many as 54 persons were said to be involved in the racket. The police action led to the arrest of 32 accused in the last couple of weeks while 22 are still on the run.
The victims are believed to be from Gujarat, Rajasthan, Punjab, Haryana, Maharashtra, and Andhra Pradesh.
A statement from the office of DIG Gandhinagar Range on Friday said that organised gangs in Vadnagar, Visnagar, Kheralu and Satlasana areas of Mehsana targeted people who wanted to invest in the stock market and enticed them into depositing their money with the accused with promises of tips on earning profit.
Earlier this month, an SIT under Deputy SP DT Gohil was constituted to probe the allegations.
Modus Operandi
For a long time, the accused in Vadnagar, Visnagar, Kheralu and Satlasana areas have allegedly been forming gangs and sharing mobile phone numbers of people interested in investing in the stock market. These young men would then call these victims and entice them to transfer money with the promise of profits, said
police.
You May Like
