The Goregaon police, in a joint operation with the Special Police Unit on Monday (August 4), busted a fake Forex trading call centre in Goregaon West and arrested two people from the spot. Forex trading is illegal in India.

Police have identified the arrested accused as Sunil Laxman Gar, 26, and Ashishkumar Lalmanraam Jaiswar, 36. Upon interrogation, they revealed the name of a third accused, Rohit Chandrakant Kadam, said to be the mastermind behind the syndicate, who is currently absconding, said the police. 

The duo was produced before the Borivli magistrate court on Tuesday, which remanded them in police custody. According to police sources, the syndicate allegedly operated under the name ‘UnityFXLive.com’, and the office was located on the 4th floor of Asmi Complex R-5, Ram Mandir Road in Goregaon West. The accused, police said, were defrauding Indian citizens by offering “fake Forex investment schemes” and siphoning off large sums through a bogus digital trading platform.