The police have arrested a person who allegedly duped individuals by luring them into his fraudulent schemes after promising them excessive returns, officers stated on Monday.
Sudhir Parkash Sharma and his associates focused individuals dwelling in slum clusters within the nationwide capital and lured them to make small investments in his firm, they stated.
Sharma and his associates satisfied individuals to open mounted deposit accounts and make investments Rs 100 each day for a yr to get a return of Rs 41,400 after 12 months.
The fraudulent schemes have been being run by the gang by their faux firm in south Delhi’s Kalkaji, which has been operational since 2013, police stated.
Sharma and his associates have up to now duped at the least 25 individuals, they stated.
Elaborating on the modus operandi, Deputy Commissioner of Police (South) Atul Kumar Thakur stated, “Initially, the gang members returned the maturity quantity to win individuals’s belief and in flip appeal to extra investments into their schemes. However after amassing an enormous quantity, they refused to refund the quantity.”
After duping individuals, they might shut down their workplace and swap off their cell phones, he stated.
The matter got here to gentle after police obtained a criticism from a girl named Zahira Khatoon, who alleged that Sharma and his associates cheated her of Rs 1,36,000 by making her put money into his schemes after promising excessive returns, the DCP stated.
Sharma, nevertheless, was arrested on Saturday from Mehar Chand market whereas he was convincing some individuals to make investments, he stated.
The police have taken Sharma into police remand for 3 days and additional investigation is underway to nab his associates and get better the cheated quantity.
(Aside from the headline, this story has not been edited by NDTV employees and is revealed from a syndicated feed.)