Cheat duped people of Rs 5 crore, arrested

NEW DELHI: The man who cheated around 100 people to the tune of Rs 5 crore by luring them into fake schemes promising huge dividends was arrested by Crime branch on October 9.

The accused Sanjay was carrying a reward of Rs 50,000 and was absconding since last year. The information further entailed that he would come to Lucknow (UP) to meet one of his relatives from where he was arrested.

He worked as an LIC agent and made a vast network of people. Due to the recession in property business, he planned new financial schemes to lure the gullible persons by promising them huge returns.

"As he knew a lot of people, he convinced them easily to invest in his new financial schemes and after cheating more than 100 people, he ran away along with his family to Dhanbad and started residing there since l past one year," said Additional DCP Alok Kumar.