AHMEDABAD: City police on Friday busted a dabba trading scam and arrested a person from a flat near Bahai Business Centre in
Shahpur area
of the city.
Dabba trading is an informal trading that takes place directly among traders, who bet on movements on
stock prices
through cash and considered illegal. These trades are typically settled in cash.
According to the FIR filed with Shahpur police, cops got an input that a man was running a dabba trading network from Borsalli apartment in the area.
A police team conducted a raid on flat number D/408 in Borsalli Apartment and found a man with a laptop.
The person, Sursh Vora, 45, resident of the same flat, admitted that he was illegally trading in stocks. Police said that a
Kalupur
resident, Dharmesh Shah, was also involved and he has gone on the run.
Shahpur police registered a complaint of breach of trust, cheating and criminal conspiracy along with charges under relevant provisions of Securities Contract Regulation Act 1956.