Howrah police arrests 2 people in 40 lakh digital investment scam

Howrah Police have made significant headway in uncovering a massive ₹40 lakh investment scam, announcing the arrest of two individuals involved in the elaborate fraud. Howrah Police Commissioner Praveen Tripathi issued a statement on Wednesday morning, detailing the swift action taken by law enforcement to dismantle this deceptive operation that preyed on unsuspecting investors through digital bait. This bust highlights the increasing prevalence of online financial scams and the police's commitment to combating them.

According to police reports, the investigation began on May 26, when a 48-year-old resident of Howrah complained. The victim stated that he had been lured into an investment scheme via WhatsApp, a common tactic employed by such fraudsters. Believing the promises of high returns, he invested a hefty sum of ₹40 lakh in three installments, transferring the money through HDFC Bank accounts.

Initially, the victim was shown fabricated profits, creating a false sense of security and encouraging further engagement. However, the situation took a grim turn when he was compelled to deposit additional funds under the guise of being able to withdraw his own invested capital, a classic move in such pyramid or Ponzi-like schemes designed to fleece victims further.

Following a thorough investigation into the complaint, police successfully apprehended two individuals directly involved in the scam. Samir Sardar, a 52-year-old resident of South 24 Parganas, was arrested as a secondary beneficiary in the ₹5 lakh fraud, indicating his role in the money laundering or distribution chain.

Concurrently, Sajid Ali, a 35-year-old resident of Narkeldanga, Kolkata, was taken into custody for allegedly arranging and collecting money through fraudulent accounts. His arrest suggests a crucial role in establishing the financial infrastructure for the illicit operation.

The police have registered a case under relevant sections of the Bharatiya Nyaya Sanhita (BNS): Sections 319(2), 318(4), 316(2), and 61(2), signifying the serious nature of the charges, which likely include cheating, criminal conspiracy, and potentially money laundering. Investigating agencies are now working diligently to uncover the entire network behind this racket.

Police Commissioner Praveen Tripathi expressed strong suspicion that an organized gang is actively involved in this scheme, specifically targeting unsuspecting investors through digital platforms. He further assured the public that the identification and arrest of other individuals connected to this large-scale scam would happen soon, indicating ongoing efforts to bring all perpetrators to justice.