3 hrs ago
Haryana Investment Fraud Probe Seizes Luxury Cars, Tracks Dubai Links
Police in Haryana are investigating an alleged scheme that promised people unusually high profits from investments.
Investigators say fake apps showed growing balances, even when the profits were not real.
Some investors were also told they would get flats in Dubai.
A contractor who complained said he and people he introduced lost substantial amounts of money.
Police estimate the alleged fraud may total around Rs 8 crore or more.
Four people have been arrested so far.
Officers have seized several cars and electronic devices while tracing the money.
They are also investigating suspected links to people in Dubai.
The claims are allegations, and the investigation is continuing.
Panchkula cybercrime police estimate the alleged investment fraud at around Rs 8 crore or more.
Four men—Rajesh Kumar, Udham Singh, Sushil Kumar and Sanjeev Kumar—have been arrested so far.
Police say investors were shown inflated app balances and promised high returns and Dubai property.
Investigators have seized several luxury cars and electronic devices and are examining them as evidence.
Police are probing suspected Dubai-based links and have issued Look-Out Circulars against two suspects.
- Who
- Four arrested men: Rajesh Kumar, Udham Singh, Sushil Kumar and Sanjeev Kumar; police are also investigating other suspected operators.
- What
- A multi-crore alleged investment fraud involving promises of high returns, manipulated app balances and Dubai property.
- Where
- Complaints came from several Haryana districts, and the investigation is being conducted by cybercrime police in Panchkula.
- When
- An FIR was lodged in July; the article says the investigation had widened two months later.
- Why
- Police allege the scheme used claims of rapidly growing investments and Dubai flats to attract and retain investors.
Key facts
- Estimated alleged fraud
- Around Rs 8 crore or more, according to police.
- Arrests
- Four: Rajesh Kumar and Udham Singh of Karnal, Sushil Kumar of Yamunanagar, and Sanjeev Kumar of Ladwa in Kurukshetra.
- Complainant
- Ashok Kumar, a Panchkula-based government contractor.
- Complainant's claimed loss
- Ashok said he was duped of Rs 60 lakh.
- Vehicles seized
- A Mercedes, Audi Q5, Audi Q3 and BMW; police have sought court permission to auction vehicles.
- Other evidence seized
- At least six electronic devices, including Apple MacBooks and iPhones, as well as other mobile phones.
- Schemes and platforms under examination
- Bloom Drive, LPNT Cryptocurrency, MSVP (Meta Soil Verse Plan), SOIL VERSE and Mechai FX.
- Dubai-related action
- Police said Look-Out Circulars were issued against Ravinder Bangar and Happy Sheikh, believed to be in Dubai.
Quotes
Yudhveer Singh
Inspector and SHO of the Cyber Crime Police Station, Panchkula
“I initially did not believe Rajesh and his associates, but they organised an official gathering and said the company’s MD and CMD would be coming to the hotel.”
indianexpress.com
“Investors were shown growing balances on mobile applications and were allegedly led to believe that their money was multiplying rapidly.”
indianexpress.com
Sources
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