Maharashtra: Massive ₹200cr forex scam busted, 7 arrested
Maharashtra Police have cracked down on an international gang that scammed hundreds of people out of over ₹200 crore with fake forex and gold trading schemes.
The group lured victims by pretending to be partners on matrimonial and social media sites, promising big returns through flashy but bogus websites.
They moved the stolen money using mule accounts and complex overseas networks.
What's happening now?
The police raided a lodge in Palghar on November 12, 2025, arresting five suspects at first and two more soon after—bringing the total to seven, all now in judicial custody.
The accused are linked to 51 cases across multiple states, including Maharashtra, Delhi, Telangana, Karnataka, Haryana, Madhya Pradesh, Gujarat, Rajasthan, Uttar Pradesh, Uttarakhand, West Bengal, and Goa.
Investigators believe the real masterminds may be based abroad and are working with cyber teams to follow the ₹200 crore money trail under cheating and IT laws.