Three Zimbabweans Arrested for Investment Fraud in India

Three Zimbabwean nationals were arrested by Kolkata Police for allegedly conning a resident of Tollygunge out of over ₹1 crore through an investment scam involving kola nuts. The suspects used fake identities and documents to mislead their victim into making a large financial investment. Following the report, police conducted an investigation, leading to their capture in Mohali.

In a notable case of investment fraud, three Zimbabwean nationals were apprehended by Kolkata Police in Mohali, Punjab, on Saturday. Tinashe Gadzikwa Praise, 22, Malvern Matungamire, 25, and Nyamhunga Lenon Kudakwashe, 23, allegedly deceived a resident of Tollygunge, Sandip Guha, out of more than ₹1 crore. The suspects had been living in various apartments in Kharar prior to their arrest.

According to police investigations, the trio tempted Guha to invest in kola nuts, claiming extraordinary returns. They even fabricated email addresses, WhatsApp accounts, and used counterfeit letterheads from the World Health Organisation (WHO) and a global pharmaceutical firm based in the UK to lend credence to their scheme. Kola nuts, known for their caffeine content, grow in Africa’s tropical rainforests and are reportedly in high demand by the pharmaceutical industry.

The suspects maintained that this was an opportune moment for investment due to rising global interest in the health benefits of kola nuts. They persuaded Guha that larger investments would yield greater returns, further convincing him by impersonating officials linked to WHO and the pharmaceutical company. However, after Guha transferred a substantial sum to their accounts, he found himself unable to reach them.

Realizing he had been tricked, Guha lodged a complaint with the police on May 20, which led to the formation of an investigation at the cyber police station under the Information Technology Act. Officers meticulously traced the money flow and established the suspects’ whereabouts.

A police team from Kolkata was dispatched to Punjab, where the suspects were arrested. Authorities seized six mobile phones, a laptop, and several banking documents during the operation, providing crucial evidence in the ongoing investigation. The case sheds light on the risks associated with online investment schemes and the importance of thorough research before financial commitments.

The arrest of the three Zimbabweans in Punjab underscores the growing threats of investment fraud. The deceptive methods used to lure victims, including false identities and fake documents, highlight the need for vigilance in financial transactions. Local authorities continue their investigation to potentially uncover more details about the scam and prevent similar incidents in the future.

Original Source: www.newzimbabwe.com