Deceptive Deals: The Unraveling of a Rs 6.35 Crore Scam

Delhi Police's Economic Offences Wing (EOW) has successfully apprehended Zamil Akhtar, the prime suspect in a Rs 6.35 crore fraud case. Akhtar is accused of spearheading a fake scrap trading operation that scammed 38 people with the allure of substantial returns.

The investigation was initiated following a complaint from Riyazull Hasan Khan, who was allegedly enticed by Akhtar into investing in the non-existent business venture. Akhtar reportedly introduced his family as partners to establish credibility.

Officials uncovered that Akhtar and his accomplices fabricated an entirely fictitious scrap trading business, leveraging forged documents to present an image of profitability. He managed a Ponzi-like scheme, rotating investor funds to create a facade of success before absconding. Despite challenges, authorities continue to pursue co-conspirators and aim to recover the funds.

(With inputs from agencies.)