The police authorities have acted upon numerous complaints against two different forex trading scam cases. The one case involved an INR 7-crore forex scam that happened in Thane, Maharashtra. The other one happened in Surat, Gujarat.
Prime Accused Ajay Usare Nabbed from Dehradun in the 7-crore Forex Scam
The 7-crore scam case led to the arrest of the prime accused Ajay Usare, who along with his associates, built a forex trading enterprise called Divine Power Forex Trading in Thane. The company lured investors with guaranteed monthly returns of 15% monthly for 15 months.
However, as investors stopped getting returns and the trading company halted its operations, complaints piled up at Wagle Estate Police Station. The police nabbed Ajay Usare, the sixth arrest in this case, from Dehradun, Uttarakhand on June 13. 2025.
The Arrest in the 43.83 Lakh Forex Trading Case
Sarthana police have cracked down on a five-member racket that duped a textile owner - Ankit Vinod Rabadia. Ankit received handsome returns initially. However, he started suffering losses, which went up to INR 11.5 lakh by August 2024.
Angered by the losses, he visited the office where the person who told him to invest in forex trading was with four other members - Mahesh Sheldiya, Risak Siroya, Kishor Vaghasia, and Mukesh Ukani. They claimed to be working as Delta Hedging specialists.
Listening to their words, Ankit made further investments, which totaled INR 50.5 lakh. He could recover only INR 6.67 lakh. The rest of INR 42.83 lakh and the losses could not be recovered. He filed a complaint at Sarthana Police Station. The police arrested Bhavesh and Kishor on June 24, 2025, and are searching for others.
The police authorities have acted upon numerous complaints against two different forex trading scam cases. The one case involved an INR 7-crore forex scam that happened in Thane, Maharashtra. The other one happened in Surat, Gujarat.
Prime Accused Ajay Usare Nabbed from Dehradun in the 7-crore Forex Scam
The 7-crore scam case led to the arrest of the prime accused Ajay Usare, who along with his associates, built a forex trading enterprise called Divine Power Forex Trading in Thane. The company lured investors with guaranteed monthly returns of 15% monthly for 15 months.
However, as investors stopped getting returns and the trading company halted its operations, complaints piled up at Wagle Estate Police Station. The police nabbed Ajay Usare, the sixth arrest in this case, from Dehradun, Uttarakhand on June 13. 2025.
The Arrest in the 43.83 Lakh Forex Trading Case
Sarthana police have cracked down on a five-member racket that duped a textile owner - Ankit Vinod Rabadia. Ankit received handsome returns initially. However, he started suffering losses, which went up to INR 11.5 lakh by August 2024.
Angered by the losses, he visited the office where the person who told him to invest in forex trading was with four other members - Mahesh Sheldiya, Risak Siroya, Kishor Vaghasia, and Mukesh Ukani. They claimed to be working as Delta Hedging specialists.
Listening to their words, Ankit made further investments, which totaled INR 50.5 lakh. He could recover only INR 6.67 lakh. The rest of INR 42.83 lakh and the losses could not be recovered. He filed a complaint at Sarthana Police Station. The police arrested Bhavesh and Kishor on June 24, 2025, and are searching for others.