Gujarat Police nab Bihar-based accused in Rs 19 lakh forex trading fraud case

Posted on by Vividh Bharathi

Ahmedabad, June 22 (IANS) A 26-year-old software engineer from Bihar has been arrested by Ahmedabad Cyber Crime Branch for allegedly helping operate an online forex and cryptocurrency trading platform that investigators say cheated investors by displaying fake profits and withholding both returns and principal investments.

The arrest was made during an investigation into a complaint filed by an Ahmedabad resident who alleged that he had been defrauded of Rs 19.07 lakh after investing through WinProFX, a forex trading platform promoted on various online channels.

According to police, the complainant was drawn to the platform after watching forex trading-related videos and was persuaded to transfer funds in the form of USDT cryptocurrency for investment.

Investigators alleged that the operators of the platform falsely displayed substantial profits on the user’s account to gain his confidence and encourage further investments.

However, when the complainant sought to withdraw either the profits or the original investment, the funds were not returned.

A technical team analysed digital footprints, call detail records, cryptocurrency wallet addresses and bank account money trails using advanced software tools.

Based on technical surveillance and human intelligence inputs, officers traced and apprehended Kumar Mangalam, a resident of Begusarai in Bihar and a B.Tech graduate in Computer Science.

Investigators alleged that Mangalam was responsible for uploading promotional videos related to forex trading to attract investors and worked as the developer and administrator of the WinProFX platform.

He allegedly earned revenue through referral codes and the operation of the website. An iPhone, iPad and MacBook were seized from his possession.

“WinProFX operated as an online forex and cryptocurrency trading platform offering trading in currency pairs such as EUR/USD and GBP/USD, as well as gold, silver, commodities, indices and digital assets,” officials said.

The platform was registered in Saint Lucia and had approximately 1.93 lakh registered users across nearly 100 countries, including India, the United Arab Emirates, Pakistan, the United States, Bangladesh, Vietnam, Afghanistan and the United Kingdom.

Investigators said investors were encouraged to deposit money in Indian rupees and cryptocurrency through the website and mobile application.

To create an impression of successful trading activity, fictitious profits were allegedly shown on users’ dashboards.

Once investors attempted to withdraw funds, the operators allegedly stopped responding and failed to return either the invested amount or the displayed gains.

Police said preliminary findings indicate that users collectively invested amounts running into several crores of rupees through the platform.

The investigation further revealed that deposits were allegedly routed through mule accounts maintained with HDFC Bank and Indian Bank in Haryana.

Verification through the Indian Cyber Crime Coordination Centre’s portal showed that multiple cyber fraud complaints had already been registered against those accounts.

The Cyber Crime Branch also stated that the proprietors or directors associated with WinProFX appear to have links with a Pakistani national.

Officials said further investigation into those connections is ongoing.

Police said that although WinProFX was not registered in India, it allegedly accepted deposits in Indian rupees and cryptocurrency through Indian bank accounts and crypto wallets under the guise of investment activities.

–IANS

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Will not allow single vote to be deleted, claims Punjab CM on SIR process

Chandigarh, May 16 (IANS) Amid growing concerns over manipulation of electoral rolls in several states, Punjab Chief Minister Bhagwant Mann on Saturday said the Aam Aadmi Party (AAP) would not allow even a single genuine vote to be deleted under the Special Intensive Revision (SIR) process.

Warning against any attempt to engineer “fake votes” in favour of a particular political party, CM Mann said AAP leaders and workers would remain stationed alongside booth-level officers (BLOs) at every polling booth across the state to monitor the exercise and prevent any irregularity.

Referring to complaints from other states regarding deletion of lakhs of genuine votes and irregularities in the verification process, the Chief Minister said the people would not permit such practices in the state and urged the Election Commission (EC) to carry out the entire SIR exercise with complete honesty, transparency and impartiality while ensuring that public objections are resolved without delay.

Interacting with the media, CM Mann said, “The Special Intensive Revision of voter lists must be conducted with complete transparency, honesty, fairness and accountability so that every genuine voter can exercise their democratic right without fear or obstruction.”

“Representatives of all political parties will remain actively involved throughout the process to ensure that no irregularities take place anywhere in Punjab.”

The Chief Minister noted the concerns raised in several states regarding the deletion of genuine votes and the inclusion of fake entries, which have created anxiety among citizens, making it imperative for the Election Commission to act with utmost responsibility and neutrality.

He said complaints have surfaced from different states about lakhs of genuine votes being deleted and manipulation in the verification process, but the people of Punjab will not allow such practices to happen in the state.

“Democracy cannot survive if people begin to lose trust in the sanctity of electoral rolls and constitutional institutions responsible for conducting elections,” asserted CM Mann.

“The Election Commission must ensure that every eligible voter is protected and every complaint raised by political parties is addressed honestly, transparently and without delay,” he added.

–IANS

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Chennai grapples with heavy rains as remnant of Cyclone Ditwah batters city

Chennai, Dec 1 (IANS) Chennai came to a grinding halt on Monday as the depression left behind by Cyclone Ditwah over the Bay of Bengal triggered relentless downpours across the city.

The intense rain flooded major roads, uprooted trees, disrupted traffic and submerged several neighbourhoods, forcing authorities to issue strong advisories urging people to remain indoors.

The impact was visible on Greenways Road, where multiple trees were uprooted amid heavy rain and gusty winds. At least three vehicles were damaged and Fire and Rescue Services teams were deployed to clear large debris.

Traffic in the area was halted until police restored partial movement.

Across the city, the Greater Chennai Traffic Police (GCTP) reported widespread disruptions. Arterial roads, subways and underpasses were inundated within hours, turning major corridors into waterlogged danger zones.

With most subways closed because of flooding, police warned motorists not to attempt to cross any submerged stretch under any circumstances.

Commuters in south Chennai faced severe problems as the Sholinganallur-Medavakkam Road became entirely impassable. Travellers bound for Tambaram were advised to use alternate routes via OMR.

In the northern belt, the Manali-Thiruvottiyur stretch was rendered unnavigable, with waist-deep water forcing authorities to bar all vehicular movement.

Critical junctions such as Madhya Kailash, and pockets including North Boag Road, witnessed heavy waterlogging and traffic gridlock. Long snarls also affected Tambaram and several suburban areas, stranding thousands for hours.

Residential areas suffered repeated flooding. Localities including Ambattur, Avadi, Virugambakkam, Vadapalani and Iyyappanthangal reported steadily rising water levels, with residents blaming inadequate stormwater drainage.

In severely affected zones such as Mugalivakkam, traffic police were fully deployed, but vehicles continued to inch through deep pools of rainwater.

Authorities advised commuters to use relatively unaffected stretches such as Anna Salai and Poonamallee High Road where possible. Chennai Metro Rail continued to operate normally between Airport and Central, offering commuters a safer travel option.

Access to Marina Beach was strictly prohibited due to rough seas and high waves generated by the depression.

With more heavy rain forecast through the night, the GCTP urged citizens to monitor real-time updates on its official social media channels, particularly X (@ChennaiTraffic), and to follow all safety instructions.

–IANS

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‘Tainted beyond resolution’: SC upholds cancellation of over 25K appointments made in Bengal schools in 2016 (Lead)

New Delhi, April 3 (IANS) The Supreme Court on Thursday upheld the Calcutta High Court’s order cancelling 25,753 appointments in teaching and non-teaching posts made by the West Bengal School Service Commission (WBSSC) in 2016.

“In our opinion, this is a case wherein the entire selection process has been vitiated and tainted beyond resolution. Manipulations and frauds on a large scale, coupled with the attempted cover-up, have dented the selection process beyond repair and partial redemption. The credibility and legitimacy of the selection are denuded,” a bench of Chief Justice of India (CJI) Sanjiv Khanna and Justice Sanjay Kumar said.

Disposing of a batch of petitions, including the West Bengal government’s appeal, the CJI Khanna-led bench made certain modifications in the directions issued by the Calcutta High Court. It said that candidates, who are already employed, need not be asked to refund or restitute any payments made to them, but their services will be terminated.

“We find no valid ground or reason to interfere with the direction of the High Court that the services of tainted candidates, where appointed, must be terminated, and they should be required to refund any salaries/payments received. Since their appointments were the result of fraud, this amounts to cheating. Therefore, we see no justification to alter this direction,” added the top court.

Further, it said that candidates not specifically found to be tainted, the entire selection process has been rightly declared null and void due to the egregious violations and illegalities, and as such, the appointments of these candidates are cancelled.

“No candidate can be appointed once the entire examination process and results have been declared void,” the top court ruled.

Giving relief to appointed candidates who did not fall within the category of tainted candidates but were previously employed in different departments of the state government or with autonomous bodies, the Supreme Court said that these candidates will have the right to apply to their previous departments or autonomous bodies to continue in service with those entities, and if necessary, supernumerary posts may be created for persons appointed in the interregnum.

“These applications must be processed by the respective government departments or bodies within three months, and the candidates will be allowed to resume their positions. Further, the period between the termination of their previous appointment and their rejoining will not be considered a break in service. Their seniority and other entitlements will be preserved, and they will be eligible for increment,” the CJI Khanna-led Bench added.

The Supreme Court clarified that for the period these candidates were employed under the disputed appointment, no wages will be paid by the state government or autonomous bodies.

In relief to disabled candidates, it said that these candidates will be permitted to continue and will receive wages until the fresh selection process and appointments are completed.

“The disabled candidates will be allowed to participate in the fresh selection process, if required, with age relaxation and other concessions. Similarly, other candidates who are not specifically tainted will also be eligible to participate, with appropriate age relaxation,” the CJI Khanna-led Bench said.

It said that the challenge to the CBI probe into the creation of supernumerary posts by the West Bengal government will be listed for hearing on April 4.

On May 7, 2024, a Bench headed by then CJI D.Y. Chandrachud stayed the operation of the impugned order passed by the Calcutta High Court cancelling school jobs.

The then CJI Chandrachud-led Bench had allowed the Central Bureau of Investigation (CBI) to continue with its investigation into the alleged scam but restricted the agency from taking any coercive action against the candidates or officials.

In an order passed in the third week of April 2024, the Calcutta High Court nullified the appointment of the candidates selected from the expired panels and asked them to return the entire salary drawn during their tenures, along with an annualised interest of 12 per cent, within the next four weeks.

Besides directing the WBSSC to initiate the recruitment process afresh, a division bench of Justices Debangsu Basak and Shabbar Rashidi of the Calcutta HC also directed the probe agency to carry on with its investigation into the matter.

Taking cognisance of the state Cabinet’s decision for the creation of supernumerary posts, it had said that the CBI, if necessary, can question the masterminds behind the creation of the seats in excess of the vacant posts. These posts, which have remained under the cloud since the beginning, are perceived to provide room for ineligible candidates recruited illegally.

In July 2023, the apex court had set aside an interim direction passed by the Calcutta High Court terminating the service of 32,000 primary teachers and asking the West Bengal authorities to complete the recruitment process for the newly created vacancies within three months. Asking the Calcutta High Court to decide the appeal pertaining to the school-jobs-for-cash scam at the earliest, the Supreme Court had stressed that the opportunity for a hearing has to be given to all concerned.

–IANS

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