Police apprehend mastermind of nationwide forex fraud syndicate

NEW DELHI: The Delhi Police Crime Branch has arrested the alleged mastermind of a sprawling interstate forex fraud syndicate linked to multiple cheating cases across the country. The accused, identified as Krishna Kumar Sharma, 31, a resident of Kolkata, was nabbed following an anonymous tip-off.

According to the police, Sharma was wanted in a high-value fraud case registered at the Shakespeare Sarani police station in Kolkata, where he is accused of cheating a victim of USD 15,000 and 1,000 Euros, amounting to roughly Rs 14.5 lakh. A warrant for his arrest had been issued by the Chief Judicial Magistrate, Calcutta, on December 6.

Sharma, who had been evading arrest, was traced to Kiran Garden in Uttam Nagar, Delhi, after specific intelligence was received by SI Anuj Chhikara. A team led by Inspector Satish Malik mounted technical surveillance and laid a trap on December 6, resulting in his arrest. His associate, Saurabh, had earlier been arrested by Kolkata Police.

Investigators said Sharma headed an elaborate pan-India syndicate that targeted forex traders, travel firms and businessmen by posing as a film industry professional. He allegedly presented himself as a producer with access to actors or lucrative foreign currency deals. The gang operated out of five-star hotels, creating professionally staged settings involving bouncers, makeup artists, relatives and accomplices to deceive targets. Once foreign currency was handed over, the group would slip away through secondary exits.

Sharma, also accused in a 2024 Connaught Place case involving spiked water and USD 25,000 theft, has links to major cheating cases across Delhi, Mumbai and Kolkata. His arrest aids the Shakespeare Sarani investigation and may yield further recoveries.