Goa Airport Bust: International Investment Fraud Syndicate Member Arrested
Global Investment Scam Syndicate Member Arrested in India
A key figure in a global investment scam syndicate was apprehended by Indian authorities at Goa’s Mopa airport.
Thakkar’s Role in the Scam
The individual, identified as Rhonak Jagdish Bhai Thakkar, was taken into custody on February 5 after arriving in the country from Dubai. Thakkar was found to be a crucial component of the syndicate, responsible for arranging “mule” bank accounts used to launder stolen funds.
The Scam
The scam came to light after a resident of Hanumangarh in Rajasthan reported being defrauded of ₹61.72 lakh (approximately $8,300 USD) in a fake investment scheme.
According to investigators, the scammers posed as representatives of Globe Capital Market Limited, a seemingly legitimate company, and contacted potential victims through phone calls and online platforms.
They promised unusually high returns on stock market investments, initially showing small gains to build trust. Once victims were convinced, they were asked to transfer larger sums into multiple bank accounts.
Modus Operandi
When victims attempted to withdraw their funds, the scammers demanded additional payments, citing taxes and processing charges. The money was then routed through a complex network of mule accounts, making it difficult to track.
Investigation and Arrest
The cybercrime unit tracked Thakkar’s activities through digital means, including bank transactions, call detail records, and IP logs. This led to his identification and subsequent arrest at Goa airport.
Next Steps
The investigation is ongoing, with authorities expecting to uncover more information about the syndicate’s operations, including its overseas connections and money-laundering network. Efforts are also being made to identify the beneficiaries and accounts used in the scam.
Warning to Investors
The incident serves as a reminder for investors to exercise caution when dealing with unsolicited investment opportunities. Experts advise investing only through reputable, SEBI-registered companies and verifying a company’s official website and registration before transferring funds.
Additionally, investors should be wary of promises of unusually high returns and never trust unsolicited calls or messages offering investment opportunities.
The arrest of Thakkar is a significant development in the case, and authorities are working to apprehend other members of the syndicate.
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