The Economic Offences Wing (EOW) on Monday raided several premises related to a man, named Sanjay Dwivedi and his associates for allegedly duping over 100 people.
Dwivedi along with family members and associates opened around 30 fake companies and used property of over 100 people, including farmers for loans, read a statement.
It added that Dwivedi, in return, promised the people that they will be made directors in the companies.
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