Overview
- The syndicate allegedly lured victims on matrimonial and social platforms into fake forex and gold trades using manipulated dashboards and early fictitious gains.
- Investigators say funds moved through mule accounts and a web of transfers that ended outside India, complicating recovery and attribution.
- The case began with a November 12, 2025 raid at a Vasai lodge on the Mumbai–Ahmedabad Highway, triggering a wider probe.
- Seven suspects are in judicial custody and have been named by police, who have connected them to 51 FIRs across multiple states.
- The inquiry was registered under the Bharatiya Nyaya Sanhita and the IT Act, transferred to Mumbai Police CDB Cell-4, and now involves coordination with state cyber cells and international agencies, with a public advisory urging verification of online investment pitches.