Delhi Police issues LOC against Dubai-based Indian in Rs 157 crore fake Ozempic case

New Delhi: The Economic Offences Wing (EOW) of Delhi Police has issued a Lookout Circular (LOC) against Dubai-based Indian national Swapnadip Roy for his alleged role in an international racket linked to the sale of counterfeit Ozempic weight-loss drugs, with the proceeds from the operation estimated at nearly Rs 157 crore.

Police sources said the LOC was issued to restrict Roy’s international travel and aid in his arrest. He is believed to be in Dubai. The move followed questioning of Vicky Ramancha, chief executive officer of a company and one of the main accused, who allegedly identified Roy as the key figure behind the operation.

Investigators said Roy, an Indian passport holder from Tripura, has not joined the probe despite repeated notices sent to his address and formal summons issued under the Bharatiya Nagarik Suraksha Sanhita (BNSS). He has now been named a key accused as police probe an alleged conspiracy spanning India, Dubai, China and the United States.

The case was registered on a complaint by a US-based firm, which alleged it was cheated of nearly $18.8 million (about Rs 157 crore) in a deal for 1.25 lakh doses of Ozempic, a globally sought-after antidiabetic and weight-loss drug. The firm claimed it received counterfeit or misbranded drugs instead of genuine medication. The consignment, shipped from China, was later seized by the US authorities.

Police suspect the operation was propped up using forged documents, including fake govt credentials and fabricated notarised papers. Investigators also alleged that funds linked to the transaction were routed through a Dubai-based entity associated with Ramancha.

In a status report filed before the Delhi High Court in Sept last year, Delhi Police flagged Roy’s alleged involvement and accused him of evading the investigation. While Ramancha earlier obtained interim protection from arrest, subject to cooperation, police told the court that key financial records — including Dubai bank statements and proof of payments to Chinese suppliers — have not yet been shared.