The Uttarakhand Special Task Force has arrested 2 people in connection with an alleged multi-crore online investment fraud network that investigators say targeted thousands of people with promises of high returns, quick wealth and sponsored foreign travel.
The arrested accused are Naveen Singh Negi, originally from Rudraprayag and now living in Raipur, Dehradun, and Kavita Parmar of Balawala, Dehradun. Police have seized 2 mobile phones, which they believe may contain evidence linked to cryptocurrency, WhatsApp conversations and online transactions.
The investigation concerns several online trading and investment platforms, including BotBro, BotAlpha, QFX, Cross Market, Mine Crypto, Meta Trade 5, Financial Freedom and TLC Coin. Investigators have identified Lavish Chaudhary as the alleged mastermind and say he is reportedly operating the network from abroad.
How the alleged network operated
According to the STF, investors were shown dollar balances and profits in their online accounts. Police allege that these figures did not reflect the actual money deposited or generated through the platforms.
The platforms allegedly used referral structures to expand their reach. The scale of the alleged network has raised questions about the number of investors involved, the total amount collected and the destination of the funds. These points remain part of the investigation.
Police said the platforms under scrutiny were not registered with the Reserve Bank of India or the Securities and Exchange Board of India. The STF has warned the public against schemes that promise extraordinary returns, rapid wealth or costly foreign trips.
Kavita Parmar’s alleged role
Investigators allege that Parmar joined QFX in 2022 and developed a substantial referral network using investment IDs belonging to her and her family. The STF estimates that around 10,000–15,000 people were connected to her network through Robo IDs.
Police say she held the position of ‘Senior Eagle Executive’ and received benefits of approximately $1,000 per month. Investigators further claim that she travelled around 12–13 times to Malaysia, Thailand, Dubai and Vietnam between 2023 and 2026 for company seminars.
According to the allegations, the company paid for her travel, accommodation and food. Police also accuse her of promoting the platforms through Zoom meetings and WhatsApp groups, with some sessions connecting nearly 1,000 people at a time.
Investigation into the second accused
The STF alleges that Negi was associated with QFX from 2022 and promoted BotBro and BotAlpha. Police claim that after BotBro shut down and several cases were registered against it, he began promoting another platform, Risenways, through online meetings.
A fresh case, recorded as FIR No. 053/2026, was registered at the Dehradun Cyber Crime Police Station over the alleged attempt to continue the fraud. The registration of an FIR marks the start of a criminal investigation; it does not establish guilt.
Because cases have been registered in different districts, Uttarakhand Police has formed a Special Investigation Team to coordinate and monitor the probe. Senior officers are supervising the investigation.
The seized phones and digital records may help investigators examine the alleged cryptocurrency dealings, communications and online transactions. The probe must still establish the full extent of the alleged fraud and identify all people involved.
Conclusion
The arrests mark a significant development in Uttarakhand’s investigation into an alleged online investment network. The STF is examining the platforms, referral structures, digital evidence and financial trail while warning people to avoid schemes promising unusually high returns or expensive incentives.
Frequently Asked Questions
Q. Who has the Uttarakhand STF arrested?
The STF has arrested Naveen Singh Negi and Kavita Parmar in connection with the alleged online investment fraud network.
Q. Which platforms are under investigation?
The platforms named by investigators include BotBro, BotAlpha, QFX, Cross Market, Mine Crypto, Meta Trade 5, Financial Freedom and TLC Coin.
Q. How many people were allegedly linked to Parmar’s referral network?
The STF estimates that around 10,000–15,000 people were connected through Robo IDs.
Q. What evidence has police seized?
Police have seized 2 mobile phones that may contain cryptocurrency, WhatsApp and online transaction evidence.
Q. What is FIR No. 053/2026 about?
The FIR was registered at the Dehradun Cyber Crime Police Station over the alleged attempt to continue the fraud through Risenways.
Q. Has the investigation established guilt?
No. The allegations remain under investigation, and the arrests and FIR do not by themselves establish guilt.
Q. Why was an SIT formed?
Uttarakhand Police formed an SIT because cases connected with the alleged network were registered across different districts.
