New Delhi, Sept. 17 -- The Economic Offences Wing (EOW) of Delhi Police has arrested a former advocate for allegedly masterminding a massive Ponzi scheme that duped investors of approximately Rs 100 crore by promising exorbitant returns through stock market investments.

According to the police, the accused, identified as Sanjay (36), a resident of Geeta Colony in Delhi, was running the scheme through a network of companies, including Trade Cops Pvt. Ltd. and Tradecop Financial Services. The accused had earlier been lodged in Karnal jail in connection with a similar case.

Sanjay and his associates, including alleged mastermind and fellow advocate Deepak Thakur, solicited funds from the public by guaranteeing a fixed monthly return of 8%....