The Delhi Police has arrested a man for allegedly duping people through his fraudulent finance schemes on the pretext of giving them higher returns.
Police said that the accused identified as Sudhir Parkash Sharma and his associates targeted people living in slum clusters here and lured them to make smaller investments with them on daily basis. They conveinced them to open FDs and invest Rs. 100 daily basis for a year to get Rs. 41,400 after 12 months of the scheme.
The fraudulent schemes were being run by the gang through their fake company in south Delhi's Kalkaji, which has been operational since 2013, police said.
Sharma and along with his associates have duped at least 25 people so far, they said.
Elaborating on their modus operandi, Atul Kumar Thakur, the Deputy Commissioner of Police (DCP), South district said that initially, the gang members returned the maturity amount to win the trust and attract more investments into their schemes.
"But after collecting huge amount, they refuse to refund the amount. After duping people, they would close down their office and switch off their mobile phones," said the DCP.
