Director nabbed for duping victims in investment fraud

NEW DELHI: The Economic Offences Wing of the Delhi Police has arrested Rahul Kumar, the director of M/s RJ Raghav Krishna Multitasking (OPC) Pvt. Ltd., for allegedly duping 18 victims of crores of rupees under the pretense of offering lucrative investment returns.

The police were informed about the fraud through a complaint registered at the Economic Offences Wing.

According to the police, the case originated from a complaint filed by Anil Kumar and others, which led to the registration of an FIR on November 3, 2023. The FIR charged Kumar and his associates under Sections 406, 409, 420, 120B, and 34 of the IPC.

According to the complaint, Kumar lured victims into investing Rs 3.2 crore in his company between July 2021 and May 2022, with promises of monthly returns ranging from 20 per cent to 30 per cent. Despite the assurances, the victims received no returns, and when they demanded refunds, they were issued cheques that bounced due to insufficient funds.

Investigation revealed that Kumar used fraudulent means, including presenting fake work orders for a project allegedly being developed by L&T in Khurja, Uttar Pradesh, to convince victims of the investment’s legitimacy.

Rahul Kumar deceived victims by fabricating a link to the Khurja project and promising high returns. His company, based in Delhi, had no ties to the project. Kumar’s fraudulent actions led to 18 victims, with more potentially affected. Investigations continue.