Mastermind Behind $4.25 Crore Delhi Investment Scam Arrested

Delhi Police's Economic Offences Wing has arrested Chander Parkash Saini, the main accused in a massive investment fraud that cheated over 600 people. Saini and his associates lured low-income families into bogus schemes and absconded with over Rs 4.25 crore. His wife, a co-accused, was arrested in 2022.

Delhi Police's Economic Offences Wing (EOW) has apprehended Chander Parkash Saini, the principal accused in a large-scale investment fraud operation affecting over 600 individuals in the national capital.

According to senior officials, the case was initially filed in 2021 based on numerous complaints from victims who had fallen prey to the scam orchestrated by Saini and his affiliates. They operated under multiple finance companies, including Vasundhara Group and Anakaya Nidhi, attracting low-income families with enticing investment plans such as daily investment savings accounts and fixed deposits.

The group created deceptive documents and passbooks that mimicked authentic banking materials, duping people into believing in their legitimacy. The fraudulent operation also included sophisticated websites portraying these sham companies as diversified business ventures. After amassing funds amounting to several crores, the perpetrators disappeared.

Deputy Commissioner of Police (DCP), EOW, Anyesh Roy revealed that Saini's wife, Sunita Saini, who co-directed the fraudulent activities, was detained in 2022. Information led authorities to Saini's hideout in Chhatarpur Extension, where he was subsequently arrested. A reward of Rs 25,000 had been set for his capture. The total defrauded amount exceeded Rs 4.25 crore from 667 victims.

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