Man arrested for cheating traders to tune of Rs 1 crore

A 36-year-old man was arrested for allegedly cheating more than 25 businessmen and traders to the tune of Rs 1 crore by forming fake companies and impersonating as their director, police said Tuesday.

Manish Kaushik was arrested from Ranjeet Nagar on March 10, they said.

Explaining the modus operandi, police said that Kaushik and his associate Gaurav Chaudhary planned back in 2015-16 that they would earn quick money by cheating traders and businessmen. They opened two offices on rented premises at separate locations at East of Kailash and Amar Colony for this purpose.

Kaushik and Chaudhary pretended they were directors and owners of the alleged companies and procured laptops, computer items, RO water purifiers, clothes, handloom, bedsheets and other articles from merchants, said Chinmoy Biswal, Deputy Commissioner of Police (southeast)