Dehradun. The Special Task Force (STF) has got a big success in the case of alleged fraud of about Rs 1200 crore in the name of online trading and investment in Uttarakhand. STF’s Special Investigation Team (SIT) has arrested two key accused, Naveen Singh Negi and Kavita Parmar, associated with the network of Bot Bro gang. It is alleged that this gang used to deposit crores of rupees by luring people with the promise of huge profits in online trading, cryptocurrency and investment schemes. To attract investors, lures like foreign trips, attractive commissions and fixed profits every month were also given. Ex-servicemen and retired employees are also said to be among the victims of this network.
According to STF, money was being collected from investors for a long time in the name of Bot Bro, Bot Alpha, QFX and other online trading platforms. Many people invested their lifetime savings in these schemes. After being assured of profits in the initial phase, investors faced payment related problems. After the complaints came to light, STF intensified the investigation of the case and arrested two accused.
Naveen Singh Negi and Kavita Parmar arrested
The arrested accused have been identified as Naveen Singh Negi and Kavita Parmar. Naveen Singh Negi is originally a resident of Rudraprayag district and was currently living in Siddhi Vinayak Colony of Raipur police station area of Dehradun. His age is stated to be 35 years.
The second accused Kavita Parmar is a resident of Balawala area of Dehradun. According to STF, the alleged role of both has been in connecting people with investment schemes and expanding the network.
The investigation team is now gathering information about the financial transactions, bank accounts, contacts with investors and other associates of the accused. Efforts are also being made to find out where the money received from investors was sent and who played a role in the network.
The lure of 5 to 8 percent profit every month
Investigation has revealed that people were assured of getting five to eight percent profit every month through investment platforms linked to the accused.
Many people started investing after hearing the promise of such high profits. It is alleged that investors were led to believe that their money was being invested in online trading and foreign exchange business.
People associated with the gang used to publicize the schemes through seminars and online meetings. Efforts were also made to add new people through old investors.
In this way, the network of investors continued to grow and a large number of people invested their savings in these schemes.
Naveen Negi was associated with the network since 2022
According to STF investigation, Naveen Singh Negi was associated with QFX company since the year 2022. In the initial period he remained associated with the company through investments and profits derived from it.
After this, he is accused of motivating other people to invest in schemes like Bot Bro and Bot Alpha.
The investigation has also revealed that even after the Bot Bro platform was shut down and cases were registered against it, Naveen was allegedly promoting another company RISENWAYS.
According to STF, efforts were being made to reconnect people with the investment business through online meetings. Due to this, investigating agencies took action due to the possibility of fraud with new investors.
Thousands of people claimed to be linked to Kavita Parmar’s ID
Important information has also come to light regarding the role of Kavita Parmar in the STF investigation. According to the investigating agency, information has been received about 10 to 15 thousand people being linked to Kavita’s alleged robo ID.
Based on this data, the investigating agencies are trying to find out the extent of the network and the actual role of the people involved in it. However, it would not be appropriate to consider all individuals associated with an ID as victims of fraud or involved in crime.
According to reports, Kavita had made about 12 to 13 trips to several countries including Malaysia, Thailand, Dubai and Vietnam between the year 2023 and 2026 to attend seminars and programs related to the company.
The investigating agencies are also probing the financial transactions and purpose of the programs related to these visits.
Search for the alleged mastermind sitting abroad
In the case of Bot Bro and other investment platforms related to it, the role of Lavish Chaudhary, the alleged mastermind sitting abroad, is also under investigation.
STF is trying to find out to which accounts the money collected from investors was sent and whether any part of it was sent abroad.
The investigation team is examining the digital devices, banking records and documents related to online investments of the accused.
Apart from this, the investigation is also moving towards identifying the agents and other members of the network connecting the investors.
Special investigation started by forming SIT
Considering the seriousness of the complaints of online investment fraud, a special investigation team was formed under STF on the instructions of Uttarakhand Director General of Police Deepam Seth.
The investigation is being carried forward under the supervision of STF Senior Superintendent of Police Ajay Singh.
In this case, a case has been registered at the Cyber Crime Police Station, Dehradun under sections of the Indian Justice Code related to fraud and criminal conspiracy, the IT Act and the BUDS Act that bans unregulated deposit schemes.
The SIT investigated the gang’s activities based on investors’ complaints and digital evidence.
