Bogus Call Centre Busted In Nalasopara For Cheating People With False Promises Of Huge Stock Market Profits; 14 Arrested
Vasai: The Nalasopara Police have busted a fake call center that was cheating people financially by luring them with false promises of massive profits in the stock market. A total of 14 people, including a minor, have been taken into action/custody during this operation. How the Scam Operated According to confidential information received by the Nalasopara Police, a bogus call center was being…
Vasai police have dismantled a fraudulent call center that duped people by falsely promising substantial stock market gains. During the operation, 14 individuals were apprehended, including a minor. The scam operated out of an apartment in Nalasopara West, with call center operators contacting unsuspecting customers across India with enticing investment offers.
The company, operating under the name For Invest to Gain Research, lacked proper legal authorization or registration from the Securities and Exchange Board of India (SEBI). Callers were lured into investing, with the promise of heavy returns, but were then coerced into paying a 30% profit share to various bank accounts, resulting in significant investor fraud, as stated by Shashank Borate, Deputy Commissioner of Police (Zone 3).
The police seized ₹8 lakh in cash and various digital devices, and are now investigating the extent of the scam. Charges have been filed under multiple sections of cheating, the Information Technology Act, and the Telecommunications Act. The accused were remanded to 4 days of police custody upon court appearance.
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