Updated: July 7, 2021 11:57:22 am
Two men, including a 31-year-old director of a tech company, have been arrested by the Delhi Police for allegedly cheating hundreds of people of Rs 25 crore after luring them to invest online in wine and spice markets.
The cyber cell of the south-east district police said the masterminds were Chinese nationals.
DCP (south-east district) RP Meena said they have arrested two men, identified as Kondala Subash (31), director of a firm called MS Golden Mark Technologies Private Ltd, and Nagaraju Karmanchi (31), who had worked with Chinese companies in the past. “During investigation, we found over Rs 25 crore have been siphoned off of a single chain of flow of money and crores of rupees have been seized in different bank accounts,” he said.
Meena said they received the complaint from one Varun Sharma, who alleged that he met with one Soo Yeon Park, a South Korean national, on dating app ‘Tinder’. “He was promised huge returns on his investment and initially more than 20 per cent returns were given to him within four days after he invested Rs 5,000. He was asked to make an account on the website http://www.h20.gbull.shop, which was later changed to http://www.s67.ecoffee.fun and has now been changed with a new domain name http://www.vip.newgas.club,” the DCP said.
The money was deposited by the accused in four separate accounts of different companies, out of which one is Golden Mark Technologies Private Limited. “In the ICICI Bank account of M/s Golden Mark Technologies Private Limited, Rs 2.73 lakh were deposited and later on, money was also asked to be deposited in its IDFC Bank account,” Meena said.
After investigation, a team led by ACP (operations) Umesh Barthwal arrested both accused from Gurugram. “After questioning, we found that Nagaraju had created at least 10 different companies whose bank accounts were used by Chinese nationals, and he is currently working as a dummy director in one of their companies. They were paying Rs 1 lakh as salary to him. He has worked as a dummy director earlier as well,” he said.
During questioning, Nagaraju disclosed that he had also purchased USDT Crypto Currency worth crores in various transactions through Binance Crypto Exchange and transferred it to a Binance Account on the instructions of the Chinese associates. “During investigation, it came to light that the bank accounts used in the present case have been mostly accessed from USA and European countries,” Meena said.
Explaining their modus-operandi, Meena said Chinese nationals contacted unsuspecting people through social media platforms like Facebook, WhatsApp, and Tinder. “They assured their target that financial markets in India are doing well and if they want good returns they need to invest in wine and spice markets. The accused then shared the URL of their fake websites with their target, asking them to invest a small amount. Initially, they gave them good returns and later asked them to invest more money after registering on their websites.
After they made heavy investments, the accused switched off their phones and started avoiding them. We came to know that the Chinese nationals have hired people like Nagaraju to open private limited companies, so that they would be able to open current bank accounts with high transaction capacity,” Meena said.
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