A man has been arrested for allegedly swindling Rs 1.2 crore from several persons by luring them into investing in a company based in east Delhi's Laxmi Nagar, police said on Friday.
The accused, Amit Sarup, was arrested on July 29 while a co-accused, Pradeep Sachdeva, was held on April 12, they said.
According to a complaint filed by one Ratan Lal Balani and others, Sarup and Sachdeva, directors of the firm had in January 2012 lured him and his sister-in-law into investing on the pretext of providing them higher returns.
They entered into a memorandum of understanding in 2012 with Sarup and Sachdeva. In pursuance to the same, Balani made a total payment of over Rs 20 lakh, a senior police officer said.
The accused duped Balani and others of nearly Rs 1.2 crore, police added.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app