Man arrested for duping people of Rs 70 cr in investment scam

MP | 22 June 2023 | Kolkata: A man was arrested on Monday for duping people worth about Rs 70Crore on the pretext of lucrative return against money investment. The accused identified as Srikant Gupta was a portfolio holder in a company that used to convince senior citizens to invest money against a lucrative interest rate. 

The company is located in Gurugram of Haryana. Several senior citizens had invested money in several schemes of the company. 

The operations of the company were going on systematically until 2019. Suddenly the company stopped disbursing the interest citing Covid-19. It is alleged that the top officials of the company misappropriated about Rs 70 crore and later transferred documents to another company which started functioning from the USA. 

Despite that the money was not refunded. When the people who had invested money approached the police and the Ministry External Affairs (MEA). After a complaint was lodged with the Delhi Police, an official of the said company identified as Sanjiv Shukla was arrested. 

Later Kolkata Police took Shukla in their custody in a case that was registered in Shakespeare Sarani Police Station. After interrogating him, Gupta’s name cropped up; he was summoned by Kolkata Police Detective Department earlier but was not arrested. 

On Monday he was again summoned and Gupta was taken into custody after several hours of interrogation. He was produced at the Bankshall Court on Tuesday and remanded to police custody till June 30. 

https://www.millenniumpost.in/bengal/man-arrested-for-duping-people-of-rs-70-cr-in-investment-scam-523007