EOW arrests Amrapali Aadya CMD in Rs 100 crore fraud
NEW DELHI: The Economic Offences Wing of Delhi Police has arrested a chief managing director and director of a private company for duping people of their money. Police said that 124 people were cheated of Rs 100 crore.
Police identified the accused as Sanjeev Kumar Sinha and Narayan Thakur. According to police, the joint complaint of one Pawan Kumar Chaudhary and 30 others against one Sanjeev Kumar Sinha, CMD of Amrapali Adya Trading and Investment Pvt. Ltd. (AATIPL) stated that without knowledge of its clients AATIPL had transferred shares of its clients to its pool accounts, pledged shares of its clients for availing funds, sold its client's shares through its employee's accounts and made payment to none of the clients.
Joint Commissioner of Police (EOW) OP Mishra said during investigation, more complainants, shareholders came forward and submitted written complaints with similar allegations against the company. "A total number of complainants, shareholders is 124 till date and the worth of their shares is Rs 100 crore (approximately). During the investigation, complaints from NSE and SEBI have also been received," he said.
Police said that during the investigation, accounts of the company were debit frozen. The reply received from National Stock Exchange of India Ltd and from SEBI showed that the record of the alleged company for the period April 1, 2016, to March 31, 2017, was falsified to conceal the full facts of receipt and payment of funds from Globe Fincap Pvt. Ltd.