Ojasvi Foundation and WinsorFX Case Update: Seven Suspects Accused, Mumbai Police Issue Warning

On its official X handle, the Mumbai police warned of the widespread fraudulent network involving Ojasvi Foundation, Ojasvi AI, WinsorFX, and Nature Elements, cautioning the public: “Avoid unregulated platforms offering unrealistic returns and always verify investments with RBI/SEBI.” In the fraud case, more than 8,500 investors were promised monthly returns of 7–8% through unauthorised forex trading and “AI return” schemes.

Source: X/MumbaiPolice

An EOW officer confirmed that around 150 investors in Mumbai have already lodged complaints, reporting losses of ₹140 million. Investigators say the trustees of Ojasvi Foundation charitable trust operated multiple schemes under the names Ojasvi AI, Nature Elements, FX Gurukul, Ojasvi Paradise, Bliss New, and Al Chemist. Seven trustees are accused in the case.

Victims were recruited through word of mouth and asked to download the company’s app, which displayed fabricated balances and profits. They were told that their money was invested in the share market and foreign exchange. However, deposits were directed into mule and personal bank accounts. Police added that seminars about the scheme were held in Mira Road to lure more participants.

The Enforcement Directorate (ED) in Surat has since seized ₹13.3 million in cash, ₹300,000 in illegal foreign currency, and uncovered evidence of hawala transactions exceeding 1.8 million USDT (worth about ₹60–70 million), along with digital records of illicit forex transactions.

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Investors should always be wary of forex schemes promising high guaranteed returns, especially those operating outside regulatory oversight. Always confirm legitimacy before committing funds.

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