The person who defrauded people of 64 lakhs was arrested from Gujarat
New Delhi (IANS) | The Delhi Police has arrested a man from Gujarat for duping over 70 people of Rs 64 lakh on the pretext of high return on investment. An official gave this information on Friday. The accused has been identified as Vikas Dattatreya Bhosale, a resident of Beed district in Maharashtra.
Vikram Porwal, Deputy Commissioner of Police, Economic Offenses Wing, said a case was registered on the complaint of Vineet Tyagi and 71 others, in which the complainants had alleged against Bhosle, Manish and Renu that their property located in Nawada near Delhi’s Uttam Nagar In the company ND Enterprises, he was selling velvet pencil making machines and was offering people to invest in his scheme.
In the above scheme, the company was providing machines and raw material like raw pencil, powder, glue, stand etc.
The complainants said, the firm also promised to buy back the processed products from them through their owners and by assuring the complainants/investors to make a handsome return of more than 75 per cent on the money invested in a very short period of two-three days. Motivated to invest in your plan.
The complainants have invested a total of Rs 64 lakh in the company. The DCP said, however, that the alleged firm started delaying the supply of raw material and did not make timely payments to the victims. Later, the alleged persons closed their business and fled.
During the investigation, the victims who lodged complaints against the accused persons/company were examined, who alleged that they were induced by the accused persons on the pretext of buy back scheme in January-February 2019.
The DCP said, after a lot of efforts, the police team traced Bhosale’s address in Maharashtra’s Beed district. Later it was learned that the accused is in touch with his father, who is working in Ahmedabad, Gujarat. Accordingly, a raid was conducted and he was arrested by the police team of EOW from Ahmedabad.
The DCP said that the accused started a firm by the name of Valeto in July 2018 but the business did not succeed and he closed the said firm.
Meanwhile, he came in contact with co-accused Manish and Deepak and started a new company by the name of ND Enterprises in Delhi’s Uttam Nagar, the officer said. He also employed some staff to collect the money and issue receipts. Later, when the business grew and many buyers came, he took money from them and suddenly closed the business on October 18, 2019 and ran away.
–IANS
