Mastermind of Rs 7.14 Crore Investment Scam Caught in Uttarakhand

In a significant breakthrough, the principal suspect in a multi-crore investment fraud has been apprehended. Ajay Usare, accused of deceiving investors through a forex trading firm, was caught in Uttarakhand, almost three years after the scandal emerged in Thane, authorities confirmed on Wednesday.

After luring investors with the promise of substantial returns, Usare shut down operations, leading multiple victims to lodge police complaints. The DCP revealed that the accused, who had been living under a fake identity abroad, was tracked to Dehradun on June 13.

The police have arrested Usare as the sixth suspect in the case and continue to explore further involvements. To date, assets worth around Rs 8 crore, suspected to be connected to the fraud, have been seized as investigations proceed.

(With inputs from agencies.)