EOW arrests jewellery firm owner for cheating

new delhi: The owner of jewellery firm London Diamond Group, Sanjay Saxena, was arrested here on charges of cheating, Economic Offences Wing of the Delhi Police said.

A complaint was filed by one Focus Imaging & Research Centre Pvt. Ltd. through its director Dr Prashant Sarin, saying that in July 2018 he met Saxena though a common partner and the accused claimed that he can arrange business loans amounting to Rs 75 crores at 8% p.a. for his

company.

After a series of meetings, the accused agreed to provide funds in two portions whereby the first part would be a sum of Rs 35 crores while the second tranche of Rs 40 crore would be provided on the condition of transfer of an amount for the alleged purchase of stamp papers etc. for further paperwork, police said. Subsequently, an MOU dated July 18 was signed between the two companies for a loan of Rs 75 crores for a period of seven years at 6% per annum.

As per the agreement, the accused took an advance payment by RTGS on the pretext of arranging stamp papers while providing post-dated cheques for Rs 35 crores and claimed that his company accounts had been freezed by the IT department.

Later, the accused obtained Rs 4.25 crore, blank signed stamp papers and letter heads from the complainant

company.

"Investigations revealed that Saxena, in lieu of arranging loans, induced the prospective borrower to give a huge sum on the pretext of facilitation and stamp fee etc. and fraudulently obtained signatures of the victim on bank stamp papers and blank cheques. Later, he used these papers to play victim in order to force the complainant to withdraw his complaint," OP Mishra, Joint CP,

EOW, said.

Once a case was registered, the accused and his family left their house. After several raids, during which he kept changing locations and mobile SIM cards, a police team managed to arrest the accused in Jaipur along with one Manoj Mishra and Romi Chauhan, who were harbouring him and were also involved in criminal cases.