Owner of 17 fraudulent firms held after six years
15 May 2013 3:23 PM IST
A high-profile proclaimed offender and fugitive, the CMD of the JVG group, Vijay Kumar Sharma (51), was arrested by crime branch officials on Monday. He had a declaration of a reward of Rs.1 lakh on his arrest.
The accused had floated 17 fraudulent companies and cheated lakhs of investors all over India to the tune of 1000 crore.
'One licensed .32 bore pistol with 5 live cartridges and a Mercedes E-280 car has been recovered,' said a police official.
'An information was received by the anti-extortion cell of crime branch regarding movements of this wanted and high profile fugitive Vijay Kumar Sharma. He had been frequently changing his location from Mumbai to Agra and Delhi,' added a police official.
A team was constituted which acted on a specific input to nab Sharma. A trap was laid near Kailash Colony Metro station but the accused, who was driving a Mercedes, managed to flee from the spot after seeing police.
The cops gave chase and the accused’s car was intercepted near Bhairon Road in New Delhi. He was apprehended from Bhairon Road near Pragati Maidan at approximately 5:30 pm.
'A licensed .32 bore pistol and 5 live cartridges were recovered from his possession. On interrogation, the accused confessed his involvement in several cases of cheating, that amounted to over a thousand crore.
Sharma had duped lakhs of people by floating more than 17 fraudulent companies with their branches all over India and cheating general public,' said a police official.
In 2005-06, the accused, Vijay Kumar Sharma, cheated a large number of people and various companies by promising them residential accommodation. He collected money to the tune of Rs 500 crore from the general public before disappearing from the scene. He was declared a proclaimed offender and cases were filed against him.
Sharma would frequently change his hideouts in Delhi, UP, Uttarakhand, Rajasthan and Maharashtra and avoided train and air journey and preferred to travel by road. Most of the time, he would stay in hotels and guest houses in small towns.
He changed his mobile phones, SIM cards and cars frequently to hoodwink investigating agencies.
'He also changed his appearance very frequently to avoid easy identification,' said a police official.
The accused had floated 17 fraudulent companies and cheated lakhs of investors all over India to the tune of 1000 crore.
'One licensed .32 bore pistol with 5 live cartridges and a Mercedes E-280 car has been recovered,' said a police official.
'An information was received by the anti-extortion cell of crime branch regarding movements of this wanted and high profile fugitive Vijay Kumar Sharma. He had been frequently changing his location from Mumbai to Agra and Delhi,' added a police official.
A team was constituted which acted on a specific input to nab Sharma. A trap was laid near Kailash Colony Metro station but the accused, who was driving a Mercedes, managed to flee from the spot after seeing police.
The cops gave chase and the accused’s car was intercepted near Bhairon Road in New Delhi. He was apprehended from Bhairon Road near Pragati Maidan at approximately 5:30 pm.
'A licensed .32 bore pistol and 5 live cartridges were recovered from his possession. On interrogation, the accused confessed his involvement in several cases of cheating, that amounted to over a thousand crore.
Sharma had duped lakhs of people by floating more than 17 fraudulent companies with their branches all over India and cheating general public,' said a police official.
In 2005-06, the accused, Vijay Kumar Sharma, cheated a large number of people and various companies by promising them residential accommodation. He collected money to the tune of Rs 500 crore from the general public before disappearing from the scene. He was declared a proclaimed offender and cases were filed against him.
Sharma would frequently change his hideouts in Delhi, UP, Uttarakhand, Rajasthan and Maharashtra and avoided train and air journey and preferred to travel by road. Most of the time, he would stay in hotels and guest houses in small towns.
He changed his mobile phones, SIM cards and cars frequently to hoodwink investigating agencies.
'He also changed his appearance very frequently to avoid easy identification,' said a police official.
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