The Sector 58 police on Sunday arrested Ravinder Singh, one of the accused in the Endmark Forex scam. His laptop has been confiscated to scan data.
Main accused Mayank Gupta, however, is still not traceable. The firm was also allegedly conducting research for companies and running an academy to give training in foreign investments.
“EndMark Forex manager Ravinder Singh, son of Kadam Singh and a resident of Ranipur in Haridwar, was arrested from Sector 63 area on Sunday. He was an accused in the FIR. In the report, besides director Mayank Gupta and Dipanshu Anand, employees Ravinder Singh, Neha Chauhan, Archana and others were also named. Ravinder has been accused of brainwashing investors to invest in the company’s schemes,” said HN Singh, superintendent of police.
“Investigations revealed that Ravinder’s father had attracted more than 200 investors who had invested lakhs of rupees. They were mostly from Haridwar and surrounding areas. They included businessmen, executives and even farmers,” said Singh.
“From Ravinder and other employees, we have got some clues about the main accused Mayank Gupta. Some documents have been recovered from him which will help us in the probe.”
On January 10, the scam was detected when some investors filed an FIR at the Sector 58 police station.
Victims claimed that the firm offered them investment returns at the rate 1% per day. Initially, they did get returns and they invested more money. In January, the company raised the return to 1.5% per day. This allured more investors.
But on January 9, the firm shut shop. “Till date around 125 investors have lodged an FIR at the Sector 58 police station,” said Singh.