Police in India have reported that they have nabbed two suspects of an alleged Forex scam approximately worth up to $1.7M. Victims reported that they were contacted by unknown individuals and lured investors to “Deltin International Foreign Exchange in order to earn high profits.”
The investigation and subsequent arrests were the results of a formal complaint with the office of the Commissioner of Police, filed by a victim of the scam. Deltin International Solutions (www.deltinfx.com and www.deltininternationalsolutions.com) was the entity allegedly used to scam more than 100 people into so-called “foreign exchange trades”.
Authorities say the company and the alleged scammers operated for at least a year and a half before the possible fraudulent activity was uncovered. In addition, the scam took “advantage of the situation during the lockdown, they lured many to invest into their companies on the pretext of fetching high returns on their investments.”