Rs 75,000 Bounty on Mastermind of Cannbizz Scam with 98 Cases; Two Arrested

संवाददाता इज़हार आलम बरेली उत्तर प्रदेश | इज़हार आलम

Two Key Accomplices in Multi-Crore Investment Scam Apprehended

The Bareilly Police and Cyber Cell, in a joint operation, have apprehended two key accomplices of a gang that defrauded investors of crores of rupees in the name of investing in Cannbizz Industries Limited. The arrests were made in the Fatehganj West region.

According to police, the main mastermind behind this scam is Kanhaiya Gulati, against whom a total of 98 cases are registered across Bareilly and other districts. Kanhaiya Gulati is a listed history-sheeter criminal in Bareilly, and a reward of Rs 25,000 and Rs 50,000 has been announced by the SSP and DIG levels, respectively, totaling Rs 75,000 for his capture.

Investigation Triggered by Viral Social Media Video

The operation to recover the crores of rupees defrauded from investors was initiated on September 13th, following the viral circulation of a video on social media. Through surveillance and intensive investigation by the cyber team, two individuals were identified: Vishal Sharma, a resident of Alok Nagar, Bareilly, and Vinay Srivastava, a resident of Kauwa Bagh, Gorakhpur.

Police claim that Vishal Sharma has cases registered against him at the Izazatnagar, Cyber Police Station, and Fatehganj West Police Station. Vinay Srivastava is also identified as a prominent member of this gang. Initial investigations reveal that Vishal Sharma facilitated investments of approximately Rs 80 lakh, while Vinay Srivastava secured around Rs 60 lakh from other individuals.

Both arrested individuals were part of a core group of 44 close associates of Kanhaiya Gulati. The duo were apprehended near the Rajaupura Underpass. During interrogation, Vishal Sharma and Vinay Srivastava admitted that the viral social media video was several months old.

Social Media Video Aimed to Exert Pressure

They stated that the primary objective behind releasing the video was to exert pressure on Kanhaiya Gulati and recover the defrauded funds. The police are currently conducting detailed interrogations of both arrested individuals to identify other members of the scam network and ascertain the full extent of the operation.

Manhunt Underway for Absconding Accused

The police administration has clarified that no criminal involved in this major scam will be spared. The two arrested individuals will be presented in court soon and taken on remand for further information extraction. Raids are ongoing at various locations as the police continue their search for the remaining absconding accused.