New Delhi, Oct 8 (Agency) A 52-year-old man has been arrested for allegedly duping people to the tune of Rs 5 crore. He duped more than 17 investors on the pretext of high returns on investment, said Delhi Police’ Economic Offences Wing on Friday. The accused, identified as Pramod Kumar Sethi, a resident of West Patel Nagar in Delhi. Police got a complaint from Lalit Ahuja and 16 others, they stated that Pramod was running a chit fund company. The accused induced the general public to invest in his chit fund scheme on the assurance of giving good monthly returns against their periodic investment. Being induced by the accused, they invested money in the monthly installments in the chit fund scheme, said RK Singh, Additional Commissioner of Police, Economic Offences Wing, Delhi. In 2015, the accused stopped the chit fund scheme and neither paid their share in the collective corpus against the subscription nor returned their invested money.
The accused had caused allegedly wrongful gain to himself and wrongful loss to the victims to the tune of Rs. 4.88 crore. After preliminary enquiry a case was registered on May 31, 2016, and the investigation was taken up. During the probe, the note books and photocopies of worksheets maintained by the accused containing the details of chit fund scheme, investors and their subscription amount were seized and sent to FSL for forensic examination. It was confirmed from the FSL that the entries were made by the accused in the note books and copy of worksheets, said Singh.