Investment Scam Unveiled: 20 Accused in Ghaziabad Case

A scam involving 20 individuals, including a company's managing director, was reported in Ghaziabad, targeting investors with false promises of returns from Dholera Smart City. The scheme allegedly amassed around Rs 60 lakh from unsuspecting investors, prompting police to initiate a manhunt for the accused.

Authorities in Ghaziabad have registered a case against 20 individuals, including a company's managing director, over allegations of defrauding investors of approximately Rs 60 lakh. The group reportedly lured investors with promises of high returns on investments in Dholera Smart City, Gujarat.

The complaint was filed by Gyanesh Raja, who was convinced to invest in the project by Nexa Evergreen Company. The company claimed to be acquiring 1,800 bighas of land in Dholera and heavily advertised in newspapers to attract investors.

Assistant Commissioner of Police Ritesh Tripathi stated that Raja and another complainant, Sakal Dev Singh, invested Rs 59 lakh and Rs 50,000 respectively. However, the company's app later became inaccessible and its officials ceased communication. Efforts are underway to apprehend the suspects.

(With inputs from agencies.)