NEW DELHI: Delhi Police‘s Economic Offences Wing arrested the director of a private firm for allegedly duping 18 investors of Rs 3.2 crore. The accused, Rahul Kumar, promised the investors returns of 20-30% per month, claiming their investments would be used in a project developed by a firm in Khurja, Uttar Pradesh. However, he allegedly showed them a fake work order and used their money for personal gain.
The case was registered on Nov 3, 2023 after a complaint was filed by Anil Kumar and others. “The investigation revealed that Kumar entered into five agreements with the investors between July 2021 and May 2022, promising them hefty returns. However, when they demanded their money back later, Kumar issued some cheques that bounced due to insufficient funds,” a police officer said.
Kumar, a BCA graduate from Meerut, incorporated his company in Delhi and started inducing people to invest in his firm. Police have identified 18 victims so far and further investigation is in progress.
In another case, EOW arrested Chandra Shekhar Saxena, the chief managing director of a private firm, for allegedly cheating a non-banking financial company of Rs 2.7 crore. The accused obtained a loan from NBFC by showing a fictitious sale of a commercial unit at a mall in Gurgaon.
According to police, Saxena entered into a builder-buyer agreement to purchase a commercial unit in the mall.
He then approached NBFC for a loan, keeping the unit as collateral security. NBFC disbursed the loan amount, which Saxena later defaulted on, causing the loan account to turn into a non-performing asset.
The investigation revealed that Saxena diverted the loan amount for personal benefits and also received Rs 50 lakh in the account of his firm.
It was later found that there was no saleable space available in the mall when the agreement was executed. Saxena is a highly qualified individual and was allegedly involved in similar fraudulent activities in the past. He was also chargesheeted in another case of cheating and duping.
