Man held from Kol for cheating retired Col of around Rs 2.4 crore

New Delhi: The Delhi Police said that they had arrested a freelance share market investor who dabbled in cryptocurrency dealings, Joyjeet Sarkar, for allegedly cheating a retired Army Colonel in Delhi of around Rs 2.4 crore under the pretext of getting him his insurance policy reimbursement.

The EOW of the Delhi Police stumbled upon the case when Col (Retd) Raghujit Singh came to them with a complaint about his policy. He said that he had invested Rs 20 lakh with the ICICI Prudential Life Insurance company through an agent but when he needed the money he was unable to get the premature surrender value for his policy.

While agents through whom he had made the initial investment in the policy became unreachable, the police said that Singh was then contacted by a person claiming to be Ajay Awasthi, who won the complainant's trust and asked him to deposit monies in different accounts to get the insurance policy money back.

Trusting the caller, the complainant went ahead to eventually deposit around Rs 2.4 crore in different accounts, some of which he also had to borrow from other family members.

The police found that the main beneficiary of these funds was Sarkar and while he was changing his location to hide from the police, he was tracked down in Kolkata and was arrested from there.

Police said Sarkar lived in Majlis Park in Delhi and had another address in Pitampura.

The accused completed B. Tech from Punjab Technical University and worked in Punj Llyod company in Delhi as Junior Engineer. He did a digital marketing course from Saket, Delhi and met with other associate co-accused persons. Currently, he is a freelancer dealing in the share market as well as cryptocurrency.