Co-operative Society President Arrested in Rs 3 Crore Investment Scam

The Delhi Police's Economic Offences Wing arrested Vinay Kumar Mishra, president of a co-operative society, for allegedly defrauding 45 people of over Rs 3 crore under the guise of high-return investments. The investigation revealed Mishra misused the funds for personal gain, targeting daily wagers with false promises.

The Economic Offences Wing of Delhi Police has apprehended Vinay Kumar Mishra, the president of a cooperative society, on charges of swindling over Rs 3 crore from at least 45 investors. Mishra allegedly deceived victims by promising substantial returns on investments, which he then used for personal gain, according to Deputy Commissioner of Police (EOW) Vikram K Porwal.

Investigations revealed that Mishra targeted daily wage earners, misleading them with promises of high returns, and duped them out of Rs 3.05 crore. The officer noted that 45 individuals have filed complaints, and the number of victims could rise as the probe intensifies.

The case was uncovered when some investors approached the EOW in May, leading to Mishra's arrest in Jalpaiguri, West Bengal. Originally from Muzaffarpur, Bihar, Mishra had previously worked as a branch in-charge at a company dealing in public deposits before founding his cooperative society.

(With inputs from agencies.)