On pretext of high return fraud, three nabbed

New Delhi: Economic Offences Wing of Delhi Police on Saturday arrested three people for duping people of more than Rs 96 lakh fraud on the pretext of high returns on their investment.

Police have arrested one Ram Kishore Sharma. He was the complainant of the case. During the investigation, his active involvement has emerged and it was found that he made the complaint before the EOW to shift the liability, burden over the other co-accused persons. The other two frauds were identified as Rahul Sharma and Ajay Sahu.

Additional Commissioner of Police (EOW) RK Singh said Sharma introduced all the victim's complainants to Sharma and Sahu and him along with the other co-accused induced and allured the victims, complainants by showing lucrative schemes and pay high returns in a very short period.

"Further it was revealed that when the accused Sahu left the company and fled away from Delhi in the year 2018, accused Ram Kishore Sharma and Sharma paid profits to the older investors by using funds obtained from newer investors," he said.

There were a large number of people who invested their money in the company on the assurances of the above mentioned accused persons. After collecting crores of rupees from the innocent persons they closed the company, shut down their office and fled away.

The accused Ajay Sahu was nabbed from Uttar Pradesh. Simultaneously the other two accused Ram Kishore Sharma and Rahul Sharma were apprehended from Delhi.