Police have arrested Chander Mohan and Dinesh Chopra in a Rs 210-crore foreign exchange trading scam in Mandi district. Mohan was trying to flee the country when he was arrested at the New Delhi airport.
The accused operated under the name QFX in Punjab, Haryana, Chandigarh, Himachal Pradesh, New Delhi, Gujarat, and Goa. They opened two offices in Mandi in July 2021 and promised investors a 60% return on their investment in 12 months. Over 100 people in Mandi invested in the scheme, and the accused collected major amounts in the district.
The police investigated after receiving complaints from depositors and found that the accused had defrauded people of Rs 210 crore in seven states. They impounded Rs 30 lakh of the accused’s assets and are in the process of seizing their properties in different states. The accused were trading in foreign exchange without a license. The police are looking for other accused involved in the fraud.
Superintendent of Police Soumya Sambasivan urged people to be aware of such frauds and not to deposit their money in fake companies or schemes that promise high returns in a short period. A case under Section 420 of the Indian Penal Code has been registered, and the investigation is underway.