The Navi Mumbai Crime Branch’s Economic Intelligence Cell (FIU) arrested Tirthankar Tushar Kanti Sengupta, 48, of Kolkata, and Jayant Anant Oak, 58, of Sector 16, Kamothe. The duo ran an unregistered “Iridium Particle Yojana” built on a tale of iridium “found” on the Bengal-Bangladesh border. The scam has duped around 300 investors since 2018. Not a single victim has received a rupee back.

Trap laid

Assistant Police Inspector Suraj Gore posed as a customer and contacted Oak, who took him to meet Sengupta at a Turbhe hotel on October 13. The accused promised returns of Rs 9 crore to Rs 28 crore on a Rs 5 lakh investment by November, and both were detained the moment Sengupta accepted Rs 1 lakh in cash as an advance.