Kolkata Police Arrest Three Zimbabweans for Alleged Investment Fraud

Kolkata Police arrested three Zimbabweans for allegedly defrauding an investor in India out of over ₹1 crore through a fake investment scheme involving kola nuts. The suspects used falsified credentials to lure their victim and were traced and apprehended in Mohali, Punjab. Police are now investigating further following the seizure of evidence during the arrests.

In a significant arrest, Kolkata Police detained three individuals from Zimbabwe for allegedly defrauding an investor in India. Tinashe Gadzikwa Praise, 22, Malvern Matungamire, 25, and Nyamhunga Lenon Kudakwashe, 23, were apprehended on Saturday in Mohali, Punjab, after complaints surfaced regarding an investment scheme that allegedly cost a Tollygunge resident over ₹1 crore (approximately $120,000).

The trio, hailing from different cities in Zimbabwe—Tinashe from Mutare, Malvern from Masvingo, and Nyamhunga from Bindura—was engaged in an elaborate scheme that duped Sandip Guha into investing. Police revealed that the suspects had posed as trading experts in kola nuts, using falsified credentials, including fake email addresses and letterheads supposedly from the World Health Organization (WHO) and a prominent pharmaceutical company from the UK.

According to investigators, the three Zimbabweans convinced Guha that there was soaring global demand for kola nuts in the pharmaceutical sector, assuring him substantial profits as a return on his investment. They reportedly claimed that this was the opportune moment for investment, which further swayed Guha to commit a significant amount.

The fraud gained momentum when Guha transferred ₹1 crore to the suspects, at which point they became untraceable. Realizing he had fallen victim to a scam, Guha filed a police complaint on May 20, leading to the investigation under the Information Technology Act.

Police swiftly launched an inquiry, investigating the financial transactions linked to the suspicious investment. Following a series of leads, the Kolkata Police managed to trace the suspects to their location in Punjab and executed their arrest. Upon detention, authorities confiscated several items, including six mobile phones, a laptop, and various bank-related documents from the suspects’ belongings.

In summary, the three Zimbabwean nationals are now facing legal repercussions for an investment fraud that duped an Indian resident out of a substantial amount of money. Their tactics, involving false assurances of significant returns and the use of counterfeit credentials, illustrate the ongoing challenge of investment scams. The swift response from Kolkata Police demonstrates the importance of vigilance in combating such fraudulent schemes.

Original Source: www.newzimbabwe.com