Accused in Currency Trading Fraud Case, Absconding for 15 Years, Apprehended by Police
Mangaluru: After nearly fifteen years on the run, an individual accused of significant currency trading and share market fraud has been apprehended by law enforcement officials. The accused, identified as Ajay Prasad G, a 41-year-old resident of Upkar Layout, Vishwanidham in Bengaluru, was arrested in Bengaluru on February 20, 2026, by a team of Ullal police officers.
The case, initially registered at the Ullal Police Station in 2011, involves allegations of fraudulent activities amounting to approximately Rs 1.20 crore. Mr. Prasad is accused of defrauding investors by enticing them with promises of exorbitant returns through currency trading and share market investments.
According to police reports, Mr. Prasad allegedly promoted a so-called ‘forex robot software’ associated with Nano Forex India. He purportedly guaranteed investors a 40% monthly profit and 20% returns on their investments in currency trading and the share market. Leveraging what authorities describe as deceptive tactics, including the presentation of seemingly legitimate identification cards and documentation, Mr. Prasad successfully solicited a total of Rs 1.20 crore from numerous individuals under the pretense of granting them access to the aforementioned software.
Subsequent investigations revealed that the promised profits and repayments were never disbursed, and the funds collected from investors were allegedly misappropriated by Mr. Prasad. Following the registration of three separate cases at the Ullal Police Station in 2011, a warrant was issued for Mr. Prasad’s arrest. However, he evaded capture for nearly a decade and a half.
The successful apprehension of Mr. Prasad marks the culmination of a long-term effort by the Ullal police to bring him to justice. Following his arrest in Bengaluru, he was presented before the 7th JMFC Court in Mangaluru. The court has remanded Mr. Prasad to judicial custody, where he will await further legal proceedings. The Ullal police are continuing their investigation into the matter.