09 September,2010 07:24 AM IST | | Abhishek Anand
Allegedly cheated people using a fictitious company
The Crime Branch of Delhi police have arrested a man and his son for allegedly cheating thousands of people of Rs 120 crore in total, using the name of a fictitious company Kanak Dhara.u00a0
Bhupinder Pal Singh, 55, and Gurkaran Singh, 25, were arrested from Delhi Cantonment area. A reward of twenty thousand rupees had been announced by the Delhi police on the duo.
"Our team received information that the father and son were seen frequenting a particular marketplace in Gurgaon. Surveillance was beefed up in the area. On September 7 at about 3 pm the suspects were seen visiting the HDFC Bank in the area in a Tata Safari car.
However by the time a raid could be conducted, both the suspects and a third person left the bank in the same vehicle. The police team trailed them and when they reached Gopi Nath Bazar at Delhi Cantontment and stopped near a petrol pump, the occupants were apprehended," said a police officer.
In the interrogation the accused revealed that they were the owners of the Urvashi Jewellers store in Rajouri Garden and they started a scheme called Kanak Dhara in year 2007.
The accused lured investors on the pretext of giving back manifold returns for their money which turned out to be 1,500 per cent to 6,000 per cent per annum.
"When they had collected about 120 crore rupees and sensed that their deeds were about to be exposed, they closed their office and went into hiding. The accused had lured investors from not only Delhi, but also from Punjab, Mumbai and other places in India.
Cases have been registered against them in Punjab as well as in Mumbai and they had been arrested earlier and subsequently released on bail. A CBI case is also pending against them," the officer added.
BREAKING THE BANK
A couple working in a bank in south Delhi who fraudulently withdrew money from a customer's account were arrested recently by Delhi police. Prem Prakash Singh and Kanchan, who work in a bank in Chittranjan Park, stole the cheques of Jagroop Singh when he went to the bank to open a savings account and forged his signature to draw Rs.2 lakh from his account. Singh filed a complaint after he detected the fraudulent withdrawal. Apart from the couple, three others - Mohammad Ali, Naushad and Shamim - have been arrested.
