Delhi:
Cops from the Crime Branch of Delhi have arrested a man and his son for allegedly cheating thousands of people of Rs 120 crore in total, using the name of a fictitious company Kanak Dhara.
Bhupinder Pal Singh, 55, and Gurkaran Singh, 25, were arrested from Delhi Cantonment area. A reward of twenty thousand rupees had been announced by the Delhi police on the duo.
"Our team received information that the father and son were seen frequenting a particular marketplace in Gurgaon. Surveillance was beefed up in the area. On September 7 at about 3 pm the suspects were seen visiting the HDFC Bank in the area in a Tata Safari car," said a police officer.
"However by the time a raid could be conducted, both the suspects and a third person left the bank in the same vehicle. The police team trailed them and when they reached Gopi Nath Bazar at Delhi Cantontment and stopped near a petrol pump, the occupants were apprehended," the officer added.
In the interrogation the accused revealed that they were the owners of the Urvashi Jewellers store in Rajouri Garden and they started a scheme called Kanak Dhara in year 2007.
The accused lured investors on the pretext of giving back handsome returns for their money which turned out to be 1,500 per cent to 6,000 per cent per annum.
"When they had collected about 120 crore rupees and sensed that their deeds were about to be exposed, they closed their office and went into hiding. The accused had lured investors from not only Delhi, but also from Punjab, Mumbai and other places in India.
Cases have been registered against them in Punjab as well as in Mumbai and they had been arrested earlier and subsequently released on bail. A CBI case is also pending against them," the officer added.