Delhi Police Cracks Pan-India Forex Scam, Arrests Mastermind
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In a major breakthrough, the Delhi Police has apprehended the alleged mastermind behind a nationwide forex scam, duping traders, professionals, and travel companies across multiple states. Krishna Kumar Sharma, a 5-star hotel regular, posed as a film producer to lure victims into lucrative forex trades. He allegedly manipulated victims with promises of high returns and staged elaborate setups in upscale hotels to gain their trust. The syndicate, which included Sharma's nephew Mayank and hired associates, used multiple phones, changed SIM cards frequently, and carried items like chilli spray and chloroform during operations. They would often flee through alternate exits after duping victims. Sharma, who had an arrest warrant issued against him by a Kolkata court, was tracked down to west Delhi's Uttam Nagar area and arrested on December 6. He is also accused in a 2024 case in Delhi where a complainant carrying USD 25,000 was allegedly hypnotised after Sharma offered him water from a bottle. The Delhi Police said Sharma had previously been involved in multiple cheating cases in Mumbai and Delhi, and turned to large-scale forex frauds after suffering losses in his event management business during the pandemic. Further investigation is underway, and Sharma has been taken into custody.
