The Delhi Police has arrested the kingpin of a ponzi scheme who was absconding for the last 10 years after duping several people across the country. Police said to lure victims into his net, the accused used to assure profit of 20 per cent to them by misinterpreting that his company invests in the power sector through various stock exchanges.
The accused has been identified as Bhairu Lal Verma, a native of Krishangarh in Rajasthan.
According to Dr OP Mishra, the Joint Commissioner of Police, Economic Offences Wing (EOW), Ajay Gujral and a large number of other victims made a complaint to EOW alleging therein that Verma along with his accomplices had been running a company by the name of M/s Power Real Developers (India) Private Limited at Pusa Road in Delhi.
“These accused persons publicized their fraudulent investment schemes wherein the general public was lured by the assured return of 20 per cent per month. It was misrepresented by the accused persons that their company is engaged in investing in the power sector through exchanges NSE and MCX and thereby generating huge profit. Under these inducements, the complainant and 63 other victims invested an amount of in Crores. After collecting the money from the general public, directors of the company closed their offices and fled away,” said Dr Mishra.
“During investigation, it was revealed that documents collected confirmed that the accused company had no business as projected by the accused persons to the victims at the time of calling the investment,” said Dr Mishra.
“The alleged company was also not registered with stock exchange markets for any kind of business. As per record of RBI, the accused company was never authorized to collect investment and deposits from the general public,” Dr Mishra said.
“The accused was absconding for the last ten years and he was arrested on September 18 and now is on three days police remand. The accused and his associates are also found involved in many similar cases registered in Rajasthan,” Dr Mishra added.