Archive · 25 Jun 2025
Forex Scam Mastermind Arrested After Three-Year Manhunt
A man named Ajay was running a company that promised big returns on investments, like 15% every month.
People gave him over 7 crore rupees because of this promise.
But he didn't pay them back.
After hiding for three years and traveling to places like Dubai and Nepal, the police found and arrested him in Uttarakhand.
The police have found around 8 crore rupees in assets connected to the fraud.
In total, 91 investors were affected.
Ajay Usare, the main accused in a ₹7 crore forex trading scam, was arrested in Uttarakhand.
Usare, a director of Divine Power Forex Trading, had been evading arrest for three years.
The company had promised investors 15% monthly returns on their investments.
Police have already secured approximately ₹8 crore in assets linked to the fraud.
The case involves 91 investors who invested over ₹7 crore.
- Who
- Ajay Usare, along with other associates, defrauded 91 investors.
- What
- Ajay Usare, the main accused in a ₹7 crore forex trading scam, was arrested.
- When
- The arrest occurred on June 13, 2024, after a three-year-long manhunt; the fraud began in 2022.
- Where
- Usare was arrested in Dehradun, Uttarakhand.
- Why
- Usare's company, Divine Power Forex Trading, lured investors with a promise of 15% monthly returns.
- Accused
- Ajay Usare
- Fraud Amount
- ₹7 crore
- Number of Investors
- 91
- Company Name
- Divine Power Forex Trading
- Location of Arrest
- Dehradun, Uttarakhand
- Assets Secured
- ₹8 crore (approx.)
- Interest Promised
- 15% per month
Sources
Main accused in Rs 7-crore investment fraud in Thane held from Uttarakhand after 3 years
Mastermind Of Rs 7 Crore Thane Forex Scam Arrested After 3 Years In Dehradun
Mastermind Behind ₹7.14 Crore Thane Investment Scam Arrested In Dehradun After 3-Year Manhunt