Three Zimbabweans Arrested for Investment Fraud in India

Three Zimbabwean nationals were arrested in Mohali, Punjab for allegedly scamming a Tollygunge resident out of over ₹1 crore in an investment fraud involving kola nuts. They created false identities and organizations to lure the victim. After the victim reported the fraud to police, an investigation led to their arrest and the seizure of devices used in their scheme.

In a significant crackdown on investment fraud, Kolkata Police apprehended three Zimbabweans in Mohali, Punjab, on Saturday. The suspects, identified as Tinashe Gadzikwa Praise, 22, Malvern Matungamire, 25, and Nyamhunga Lenon Kudakwashe, 23, were allegedly involved in deceiving a local resident out of over ₹1 crore. The trio had been residing in separate apartments in the Kharar area of Mohali for some time before their arrest.

Tinashe hails from Mutare, Malvern is from Masvingo, and Nyamhunga is from Bindura, all of which are cities in Zimbabwe. According to a senior police official, the suspects lured their victim, Sandip Guha from Tollygunge, into investing in kola nut trading, promising substantial returns. To bolster their scheme, they created fake email accounts, used WhatsApp for communication, and even forged letterheads of the World Health Organisation (WHO) and a UK-based pharmaceutical firm.

Kola nuts, derived from kola trees in Africa’s tropical rainforests, are known for their caffeine-rich content and have gained traction in the global pharmaceutical market. Investigators learned that the suspects convinced Guha that this was the ideal time to invest in kola nuts due to increasing demand in the industry. They also falsely claimed that the WHO recognized the health benefits of kola nuts, further solidifying their deception.

After Guha transferred ₹1 crore to the trio’s bank accounts, he soon found himself unable to reach them, leading him to suspect he had been scammed. Following this realization, he lodged a police complaint on May 20. The case was assigned to the cyber police, and an investigation was launched to track the financial transactions involved.

Law enforcement officials diligently pored over transaction details and tracked the money trail, eventually leading them to Punjab. A team from Kolkata Police was dispatched to the area, where, after a thorough operation, they successfully arrested the three individuals. During the arrests, they seized several items, including six mobile phones, a laptop, and various bank documents related to the fraud.

The arrests of Tinashe Gadzikwa Praise, Malvern Matungamire, and Nyamhunga Lenon Kudakwashe highlight the ongoing issue of investment scams targeting unsuspecting individuals. Their strategy involved elaborate deception, complete with fake communications and false guarantees of profit. This case serves as a reminder of the importance of vigilance while investing, particularly in unfamiliar markets.

Original Source: www.newzimbabwe.com