An Indian man suspected of masterminding a massive Ponzi scheme is no longer a fugitive after he was captured – by a group of disgruntled investors, no less – and turned over to authorities. Badarul Islam, the former managing director of a company known as “Finix,” had been a fugitive from authorities for more than one year after the company shut its doors to investors. However, his time on the run came to an end as Islam was apparently apprehended by a group of aggrieved investors that had been searching for him. After his capture, Islam was subsequently turned over to police.
While details remain scarce, Islam is alleged to have acted as managing director for “Finix,” which solicited investors with the promise of outsized returns. After collecting a “considerable” sum of money from investors, which is estimated to be in the hundreds of thousands, if not millions, of dollars, Islam’s branch closed down and all employees fled town.
Islam had been on the run for over a year before being spotted by investors. Police have confirmed that an investigation remains ongoing.