Overview

• Ajay Usare, 38, was tracked via technical leads and arrested in Dehradun on June 13 by the Thane Police Economic Offences Wing.
• He is the sixth accused remanded in custody until June 26, with investigators probing further associates linked to the fraud.
• Divine Power Forex Trading, set up in Thane’s Wagle Estate in 2022, duped 91 investors of Rs7.14 crore by promising 15% monthly returns.
• The case was transferred to Thane Police’s Cyber Cell on October 7, 2024, which led a three-year inquiry tracing Usare through Dubai and Nepal.
• Authorities have secured about Rs8 crore in assets tied to the scam and continue targeting co-conspirators under investigation.