Social Media Account Reveals Clue: Suspect in Rs 5.7 lakh Forex Scam Arrested in India

Recently, the police in Nagpada, India, arrested Sameer Kamble, a 37-year-old man suspected of a foreign exchange scam, accused of defrauding a victim of Rs 5.7 million.

The victim, a 38-year-old resident of Nagpada, reported to the police that he had transferred Rs 5.7 lakh to Sameer Kamble through an agent to convert the rupees into US dollars. Kumble delivered a bundle of banknotes, but a closer look revealed that it contained only two genuine banknotes, sandwiched at the top and bottom of the pile of banknotes, and the remaining portion consisted of blank paper cut to the same size as banknotes.

The two realised they had been duped when they counted the notes, but Kumble had already vanished. On May 4, the victim called the police, who immediately launched an investigation.

_{The accused, Sameer Kamble, and the Nagpada police. Source from Mid-day.}

Initially, Kumble's whereabouts were a mystery, as police could not find him at his workplace or residence, while his family and colleagues did not provide valid information.

However, he was very active on social media and often shared updates from different locations. The police found clues through CCTV records based on a farmhouse the suspect shared on social media after visiting the spot to investigate. Eventually, the police found him at a remote hotel in Pune, where he had checked in under the name of his friend to hide his identity.

Kumble was arrested at 3 am on May 26.

During interrogation, Kamble revealed that he had been involved in the foreign exchange business for 15 years and was well-versed in its techniques and loopholes. Although he had no prior criminal record, financial distress from an overwhelming debt drove him to orchestrate the scam. He repaid the money with these illicit gains.

BrokersView reminds you

When you encounter a Forex scam, immediately report it to the local police to seek their assistance. Avoid any further transactions with the scammers to prevent further losses.

BrokersView encourages victims of Forex scams to file a complaint through BrokersView Complaint. As a third-party, the BrokersView team will work to facilitate communication between traders and brokers and assist in reporting cases to regulatory authorities.