Man who duped investors over Rs 10 crore arrested

A 37-year old man was arrested for allegedly duping investors over Rs 10 crore in Rajasthan, police said on Thursday.

Vishal Yadav, a resident of Rajasthan, was arrested by the team of Delhi Police on Wednesday from a police office in Pitampura area of north Delhi where he had come to enquire about the complaint made by him in Alwar district of Rajasthan.

Deputy Commissioner of Police (North West) Vijay Singh said: "During interrogation, the accused has accepted that in the year 2003-04, he along with his four other accomplices started a firm in the name of "Ganpati Enterprises" in Rajasthan."

"Yadav and his accomplices lured more than 10,000 persons and duped them of their hard earned money," the officer said, adding: "After some time he and all of his associates vanished with a sum of around Rs 10 crore."

Explaining the modus operandi of the accused, the officer said that Yadav and his associates used to give advertisement in the newspapers inviting people to enhance their monthly income by Rs 7,000 after getting job of 'Data Entry Operator'.

"He assured two years job to the applicants and asked them to deposit Rs 6,500 through bank draft in the name of Ganpati Enterprises, Kota, Rajasthan," the officer added.

Yadav has been handed over to the Rajasthan Police, the officer added.

Police claimed that there were 10 cases registered against the accused in Rajasthan.

Yadav, was residing here in the Rohini area of west Delhi, had invested money in some liquor shops and also owned a saree shop in Chandni Chowk area of old Delhi.

--IANS

aks/vd