Delhi Police Head Constable granted bail in investment fraud case

A Delhi court has granted bail to a Delhi Police head constable, arrested for allegedly cheating a man on pretext of investing his money in various institutes.

Additional Sessions Judge Kiran Gupta released the accused, Amit Yadav, on a personal bond of Rs 50,000. The judge observed that Yadav had been in judicial custody since December 12 of the previous year and that the charge sheet had been filed after the completion of the investigation.

The judge, in an order issued on March 5, noted that the accused had no prior involvement in any criminal case and that it would take time to receive the Forensic Science Laboratory (FSL) result for the case. The judge accepted the arguments made by advocate Amit Sahni, appearing for the accused, that the complainants had failed to provide any Memorandum of Understanding (MoU), agreement or other documentation supporting their claim of investing money in a group at the instance of the accused. According to the prosecution, the case originated from a complaint filed in November 2019 by Sanjay Aggarwal, a resident of New Friends Colony in Delhi. Aggarwal alleged that the accused had misappropriated funds amounting to Rs 1.95 crore, claiming to invest them in various institutes.

The FIR alleged that the accused operated committee groups, collecting payments for investment purposes with the promise of returning them with interests. Prosecution alleged that there were several victims and that the accused had defrauded various individuals of several crores of rupees.

The case was being investigated by the Economic Offences Wing (EOW) of Delhi Police.