Ex-lawyer runs ₹100cr Ponzi scheme, dupes 200 people
Delhi Police have arrested Sanjay, a 36-year-old ex-advocate, for allegedly running a massive ₹100 crore Ponzi scheme that tricked nearly 200 people.
He and his partner Deepak Thakur (still on the run) lured investors through Trade Cops Pvt Ltd and Tradecop Financial Services, promising an easy 8% monthly return using supposed stock market "in-house algorithms" capable of delivering 20% monthly gains.
Early payouts built trust, but payments stopped abruptly and Sanjay disappeared.
Police urge public to stay away from such schemes
Investigators discovered that ₹10 crore was diverted to buy land in Mathura, against which attachment proceedings have been initiated.
Four FIRs are registered across Delhi, Haryana, and Uttarakhand; Sanjay's wife is also missing and wanted in the case.
Police are urging the public to stay away from schemes promising high fixed returns without SEBI approval.
The search for Thakur continues as legal action moves forward.