Director Arrested for Alleged Rs 3.2 Crore Investment Scam in Delhi

Delhi's Economic Offences Wing arrests Rahul Kumar, director of a private firm, accused of cheating victims by promising returns of 20-30%. Investigations uncovered fake work orders linked to a Khurja project. Accusations include fund misappropriation of over Rs 3.2 crore, impacting at least 18 investors.

In a significant crackdown by the Economic Offences Wing (EOW) of Delhi Police, Rahul Kumar, director of a private limited company, has been arrested for his alleged role in a massive fraud scheme. Kumar is accused of deceiving multiple investors by guaranteeing high returns in exchange for their contributions.

The investigation into the scam began following a complaint filed on November 3, 2023, by Anil Kumar and several other victims. The complaint accuses Rahul Kumar of convincing investors to put their money into his company, promising monthly returns of 20% to 30%. He claimed the funds would be invested in a project in Khurja, Uttar Pradesh.

Between July 2021 and May 2022, the victims signed five investment agreements with Kumar's private limited company, culminating in a total investment of Rs 3.2 crore. However, instead of receiving the promised returns, the investors found themselves at a loss. Attempts to retrieve their money resulted in bounced cheques and further frustration.

The EOW's inquiry revealed that Kumar allegedly used a fabricated work order to mislead at least 18 investors, falsely claiming their funds were part of a lucrative project. The deception affected multiple victims, who lost their savings to the fraudulent scheme.

Kumar, educated with a Bachelor of Computer Applications (BCA) from Meerut, Uttar Pradesh, launched the sham enterprise M/s RJ Raghav Krishna Multitasking (OPC) Pvt. Ltd., operating from Greater Kailash-II, Delhi. This arrest underscores the ongoing effort to clamp down on financial fraud.

(With inputs from agencies.)