Fugitive Dipakkumar Thakkar extradited from UAE to India, arrested by Gujarat Police

Gujarat Police Extradite Fugitive Deepakumar Thakkar from UAE, Arrest in Stock Market Fraud Case

Earlier this week, a team from the Gujarat Police brought back Deepakumar Thackeray, who was absconding from the UAE and was arrested earlier on the basis of a Red Corner Notice (RCN) issued by Interpol.

Deepakumar Thackeray, who was absconding from the United Arab Emirates and had been detained before on the basis of an Interpol Red Corner Notice (RCN), was apprehended earlier this week by a squad from the Gujarat Police.

On August 27, 2024, a security escort team from the Gujarat Police, led by State Monitoring Cell (SMC) DIG Nirlipt Rai, departed for Dubai. Deepakumar Thacker was apprehended and sent to India. He was taken into custody on Sunday around 12:30 p.m. in Gandhinagar.

Notably, the case filed under sections of Prohibition of Gambling Act, IT Act and Securities Contract Regulation Act was investigated by the State Monitoring Cell (SMC) of Gujarat Police.

According to the complaint, the accused used to trade stock market daba through MetaTrader application on Velocity server at an office in Vejalpur. They were doing illegal trading in the stock market.

The main accused or king named in the police complaint was Thakkar. He hails from Bhabhar in Banaskantha but resided in Dubai. The SMC obtained an open arrest warrant against him under Section 70 CrPC.

When the police realized that Thakkar had left India on July 12, 2023, a Lookout Circular (LOC) was issued against him. The State Monitoring Cell (SMC) then approached the Central Bureau of Investigation (CBI), who requested Interpol. The international agency then issued a Red Corner Notice (RCN) against Thakker on December 15, 2023.

The RCN has been deployed to all Interpol member states to track down and arrest suspects. The subject was geolocated to Dubai through Interpol. Thakker was arrested by the UAE police from Dubai on March 13 this year.

The Ministry of Home Affairs (MHA) sent a proposal to the UAE government on June 25, 2024 to extradite Thakker. The UAE accepted this extradition request on August 8. After this the team headed by DIG Rai left for Dubai.

Thakkar is one of the 36 accused arrested in the case. Earlier, the SMC seized all electronic equipment and froze 47 illegal trading accounts operating from the Vejalpur office. Further investigation is underway.