The Economic Offences Wing (EOW) of Delhi Police has arrested three men for allegedly cheating a group of doctors in the National Capital. The accused duped doctors to the tune of Rs 3 crores. 

The accused have been identified as BhanuPartap Singh (46), Milan Sharma (48) and Rahul Raghav (37), all residents of Noida in Uttar Pradesh (UP).

According to R K Singh, the Additional Commissioner of Police, EOW, a group of doctors had made allegations against Bhanu Pratap Singh,  Vice-President, High Networth Income Sales, Rahul Raghav, Harinder Singh, Jashan Arora, Virender Arora, Jitender Rai Singhania of Master Capital Services Pvt. Ltd. (MCSL) and Milan Sharma, Financial Advisor, that they induced them to open their Demat accounts and trading accounts at MCSL.

“In their complaint the doctors stated that after shifting their share-holdings to MCSL, the accused persons started trading unauthorizedly and rashly and put their money in wrongful loss to the tune of more than Rs.3.60 Crores. The accused earned huge brokerage from this unauthorized trading and also fraudulently appointed the complainant a sub- broker by forging his signatures,” said the Additional CP.

“A case was registered and during investigation, it was revealed that accused had clandestinely fudged the emails sent to the complainants regarding their trades by removing the entries showing “Penal Interest Charges” and kept on trading by the false assurance of huge profits in the future,” said the Additional CP.

“The accused BhanuPratap used MCSL ID-Cards but denied from being employee of the MCSL. Also, an email id bhanu.pratap@mastertrust.co.in was used by BhanuPratap addressing the complainants to communicate with the complainants while he was never an employee of MCSL,” said the Additional CP.