The arrested men have been identified as Tirthankar Tushar Kanti Sengupta, 48, a resident of Kolkata, and Jayant Anant Oak, 58, from Kamothe in Navi Mumbai. The operation was conducted by the Crime Branch’s Economic Intelligence Cell.
According to the police, the accused allegedly attracted investors through an unregistered scheme called the “Iridium Particle Yojana”. They reportedly claimed that the Centre had sold iridium supposedly found near the Bengal-Bangladesh border to Germany for Rs 3.34 lakh crore. Sengupta allegedly told prospective investors that he and four others were entitled to half the amount, but money was required to pay officials and facilitate its release.
Police said investors were persuaded to contribute between Rs 2 lakh and Rs 8 lakh, although initial findings indicate collections of approximately Rs 4 lakh to Rs 5 lakh per person.
The arrests followed a police operation on October 13. Assistant Police Inspector Suraj Gore reportedly posed as a prospective investor and contacted Oak, who subsequently arranged a meeting with Sengupta at a hotel in Turbhe. The accused allegedly promised returns ranging from Rs 9 crore to Rs 28 crore against an investment of Rs 5 lakh by November.
Police detained both men after Sengupta allegedly accepted Rs 1 lakh in cash as an advance.
Investigators are examining the alleged network of custodians, beneficiaries and agents operating across different states. They are also probing whether one of the accused may himself have been misled by the same purported investment opportunity.
People who believe they have been affected by the scheme can contact the FIU helpline at 7700920766.
