A 36-year-old man was arrested for allegedly cheating more than 25 businessmen and traders to the tune of ₹1 crore by forming fake companies, the police said on Tuesday.
Manish Kaushik was arrested from Ranjeet Nagar on March 10, they said.
Explaining the modus operandi, police said Kaushik and his accomplice Gaurav Chaudhary had in 2015-16 planned that they would earn quick money by cheating traders and businessmen.
Two offices in city
They opened two offices on rented premises at separate locations — East of Kailash and Amar Colony.
The duo pretended they were directors and owners of the alleged companies and procured laptops, computer items, RO water purifiers, clothes, handloom, bedsheets and other articles from merchants, said Chinmoy Biswal, DCP (South-East).
Initially, they procured small consignment from these traders. Once they developed trust, they would pay a small advance amount and procure huge consignment, he said.
In lieu of such consignments, they would give bogus Post Dated Cheques (PDCs) to the traders and these articles were sold at cheaper prices to receivers and junk-dealers, he added.
When the traders could not locate the two persons, several complaints of cheque bounce were filed by the victims at the Saket Court, the DCP said.
The accused was declared a Proclaimed Offender (PO) in 14 cheque bounce cases by the court, he said. The police team scanned bank details and conducted fresh raids at all possible hideouts of the accused persons following which Kaushik was arrested from Ranjeet Nagar, he added. The accused told the police he was planning to open a new office to continue with his work, the officer said.
