The Charkop police have arrested six men who allegedly worked as agents for a Dubai-based businessman, who conned people in India by luring them to invest large sums of money in forex trading, promising large returns. According to the police, the scam was unearthed by a 47-year-old Charkop resident, who had invested Rs 1.75 lakh and was promised Rs 1.5 lakh return every day. The police suspect hundreds of people may have been cheated of lakhs of rupees similarly.

The complainant, a Forex trader, told the police in his statement that in March he had got an SMS offering him good returns on investment. After a few days he accepted and invested about Rs 1.75 lakh between March and May. He had deposited the amount in a multinational bank’s current account at its Malad branch.