2 arrested over Tk5cr online investment scam 

The Criminal Investigation Department (CID) of Bangladesh Police has arrested two members of a suspected organised gang, including its ringleader, for allegedly defrauding people of nearly Tk5 crore through an online investment scam.

The arrests were confirmed in a press release issued by the CID headquarters today (7 November). 

According to the CID, the gang lured victims by creating fake investment groups on the encrypted messaging app Telegram, posing as representatives of foreign companies and offering the promise of high returns in a short time.

In the early hours of yesterday (6 November), a CID team from the Dhaka Metro East Division arrested the suspected ringleader, Fardin Ahmed alias Protik, 25, from Panchagarh. Based on information provided by him, the team later detained his associate, Sagar Ahmed from Thakurgaon.

According to the press release, the fraudsters had been operating Telegram groups under the guise of "foreign investment platforms," enticing people to invest with the prospect of quick profits. In these groups, they would post fabricated success stories, claiming to have earned substantial returns from their investments, reads the release. 

The gang laundered and misappropriated the money through bank and MFS accounts opened under others' names, leaving many victims bankrupt and some unsuspecting account holders in legal trouble, adds the release.

The CID said Fardin used over 30 bank, MFS accounts, and SIM cards under false names, while his associate Sagar, using the alias 'Rio', ran a fake Telegram group called 'Alex Wick' to defraud investors.

To cash out the illicit funds, Fardin bought vehicles through bank transactions and quickly resold them at lower prices, showing fake losses to justify the withdrawals, the CID added.

During preliminary interrogation, Fardin confessed to his involvement in the fraudulent activities, according to the CID.