UP STF Arrests Alleged Pan-India Investment Fraud Kingpin from Nagpur

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Nagpur/Lucknow: In a major breakthrough against cyber fraud, the Uttar Pradesh Special Task Force (UP STF) has arrested the alleged mastermind of a pan-India investment scam from Nagpur, Maharashtra. The accused, Anurag Arvind Srivastava, is alleged to have cheated investors across the country by luring them with promises of high returns through fake stock market and IPO investment schemes.

According to the UP STF, the accused used Instagram, Facebook, and WhatsApp to attract victims to fraudulent investment portals and mobile applications. Investors were shown fake profits and growing account balances on app dashboards, encouraging them to invest larger amounts.

Anurag was arrested on July 31 from his residence in the Mankapur police station area of Nagpur. During the search, investigators seized a laptop, an iPhone, two SIM cards, seals of three firms, six blank cheque books from different banks, two unsigned cheques worth ₹3.17 crore and ₹2.50 crore, a cancelled cheque, 139 pages of documents, and a Tata Nexon SUV.

After obtaining a transit remand, the UP STF brought the accused to Lucknow, where he was produced before a court and remanded to judicial custody.

Fake Training, Fake Profits

The investigation revealed that the syndicate promoted fake stock market analysis training through social media advertisements. Interested individuals were added to a WhatsApp group named “VIP Guidance Group,” where they received purported stock trading and IPO guidance along with fabricated screenshots showing massive profits.

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Victims were then persuaded to download a fake investment application called “Century App” through fraudulent links and transfer money into multiple bank accounts. While the app displayed increasing investments and profits, investigators say the figures were entirely fabricated.

Earlier Fraud Activities

During questioning, Anurag allegedly admitted that in 2022, he and his associates had also operated a gaming platform and fantasy gaming business that was used to defraud investors, involving transactions worth crores of rupees. Investigators are now tracing the money trail and identifying other members of the network.

Thousands of Complaints

The accused is reportedly wanted in 11 criminal cases, including multiple cases registered at the Lucknow Cyber Crime Police Station, a case at Ashiyana Police Station, and another at the Cyber Crime Police Station in Andaman & Nicobar Islands.

According to the UP STF, the gang has been linked to 3,087 complaints registered on the National Cyber Crime Reporting Portal. Authorities have already frozen bank accounts containing nearly ₹2 crore, while investigations into additional accounts and other members of the syndicate are ongoing.

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