Forex

MBA graduate arrested for robbing forex agents

31-yr-old committed similar crimes in Hyderabad, claims debt prompted him to

An interesting case of ‘white collar crime’ was busted by the Pune police’s crime branch (unit II) at the start of the new year, after they managed to corner a young MBA graduate who was going around robbing foreign exchange (forex) agents.

On January 1 this year, city police got accused Rahul Kiran Gatiya (31), a resident of Mumbai, here from Hyderabad, where he had been arrested for the same crime on December 30, 2019.

His modus operandi allegedly involved soliciting US dollars from unsuspecting forex company agents, then robbing then by spraying some unknown substance into their eyes to incapacitate them.

In November last year, various forex company employees in the Koregaon Park and Yerwada areas of Pune got calls from Rahul, demanding USD in exchange for rupees. Thereafter, at least two such agents were robbed of the currency they were carrying. The case was subsequently being investigated by senior inspector Mahendra Jagtap of crime branch (unit II) and his team.

Meanwhile, two similar crimes had taken place in Hyderabad, where an arrest had also been made. Hearing this, a squad of the investigating team from here travelled to the South Indian metro, and found that the same young man had been perpetrating this inter-city drama. In fact, when he was questioned about the same, he confessed to the crime. Accordingly, he was taken into custody and brought to Pune.

Deputy commissioner of police (DCP) Bachchan Singh informed Mirror, “The accused committed the crime with much deliberation. He came to the city and booked a service apartment under a fake name, then began calling forex agents around town and asking for US dollars. When he met them, he used a mask to cover his face to prevent being caught on camera. Since he lives in Mumbai, he is alleged to have committed crimes here, as it is a nearby city.”

The accused, who has studied a Master of Business Administration in finance, used to previously run a business selling electronic goods to online companies. However, he told police that he faced losses in this venture as he had taken heavy loans to set it up. In January last year, his marriage dates were decided, so he was trying to repay his loan and arrange money for the wedding, he claimed.

The next cities on his target list, said cops, were Surat and Baroda, adding that although Rahul hails from a well-educated family, crippling debt threw him into the world of crime.

The accused came to the city and booked a service apartment under a fake name, then began calling forex agents around town and asking for US dollars. He used a mask to cover his face to prevent being caught on camera

DCP Bachchan Singh

Source

neallesh@yahoo.co.uk

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