3 hrs ago
Indore Police Arrest Nine In Investment And Account Fraud Cases
Police in Indore arrested nine people in separate cases involving alleged financial wrongdoing.
Two suspects were accused of taking Rs 1.43 crore from a man by promising profits from grain-market trading.
The man said the suspects did not return his original money or the promised profits.
Police checked bank accounts, phone numbers and other documents.
They said both suspects had faced earlier cases.
In two other cases, seven people were accused of supplying, renting, buying or selling bank accounts for cyber-fraud transactions.
Police seized cards, banking documents, SIM cards and phones.
Investigators are checking whether more people were involved.
Two men, Gaurav Jain and Akash Jain, were arrested over an alleged Rs 1.43 crore investment fraud in Indore.
Police said Kawaldeep Singh Reen alleged that the suspects promised profits from grain-market trading and did not return his money.
Investigators examined bank accounts, mobile numbers and documents linked to the investment-fraud complaint.
Seven others were arrested in two separate cases involving the alleged renting, buying and selling of mule or fake bank accounts.
Police seized SIM cards, ATM and debit cards, passbooks, chequebooks and mobile phones in those operations.
- Who
- Nine people were arrested: Gaurav Jain and Akash Jain in the investment-fraud case, and seven others in two separate bank-account cases.
- What
- Police investigated an alleged Rs 1.43 crore investment fraud and alleged trading in mule or fake bank accounts used for cyber-fraud transactions.
- Where
- The arrests and investigations took place in Indore, Madhya Pradesh.
- When
- The first arrests were reported on Friday, while the seven other arrests were reported on Saturday.
- Why
- The arrests followed allegations of failing to return investment money and supplying or trading bank accounts for cyber-fraud transactions.
Key facts
- Investment amount
- Rs 1.43 crore allegedly transferred by the complainant
- Investment promise
- Profits from grain-market trading
- Investment-fraud suspects
- Gaurav Jain and Akash Jain
- Complainant
- Kawaldeep Singh Reen of Bhicholi Road
- Other arrests
- Seven people held in two separate bank-account cases
- Items seized
- SIM cards, ATM/debit cards, bank passbooks, chequebooks and mobile phones
- Earlier cases
- Police said eight cases had previously been registered against Gaurav Jain and two against Akash Jain
Sources
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