Man arrested for cheating

September 19, 2020 11:18 pm | Updated 11:18 pm IST - NEW DELHI

A 55-year-old man has been arrested by Delhi Police Economic Offences Wing for allegedly cheating people of crores by luring them to invest for higher returns.

DCP (EOW) O.P. Mishra said that the accused has been identified as Bhairu Lal Verma.

The police said that they received a complaint from Ajay Gujral and many others that Verma and his accomplices are running a company by the name Power Real Developers (India) Pvt Ltd at Pusa Road and publicised an investment scheme wherein general the public were lured by assured returns of 20% per month. “It was mispresented by accused persons that their company is engaged in investing in power sector. The complainant and 63 other victims invested crores in the scheme,” Mr. Mishra said.

The accused, however, fled after taking the money and shut his office, the police said. The police said, it was confirmed that the company had no business as projected by the accused persons at the time of investment. “As per RBI record, the accused company was never authorised to collect investment from general public,” the officer said.

The police said that the accused is involved in several criminal cases registered against him.

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