Mastermind of Indian Investment Scam 'Aditya Birla Group Investment Group' Arrested

Indian police have arrested the mastermind behind the online investment scam 'Aditya Birla Group Investment Group', which caused losses of about Rs 48 lakh to the victims.

The arrested suspect is Jitendra Sharma, 29, from Vangaon, Palghar, Maharashtra. This person was known to be associated with 46 complaints received on the National Cyber Crime Reporting Portal.

According to the police, after receiving a complaint from a victim, the police launched a detailed investigation into a fake trading app and found that 'Aditya Birla Group Investment Group' was attracting unsuspecting investors through Instagram and WhatsApp.

The victim, Vinay Singhal, was promised by the fraudsters that the investment project would bring high returns. He saw a huge profit in his account on the fake trading platform and believed it, initiating multiple transfers to several bank accounts for the “investment”.

After receiving his complaint, the Indian police registered the case on March 17, and soon discovered several similar cases.

On May 16, a police team conducted a raid in Vangaon and seized phones, a laptop, debit cards, USB drives, cheque books, a bank passbook and Rs. 80,000 in cash.