The Economic Offences Wing (EOW) of the Delhi Police have arrested a man for allegedly cheating people of their investments through schemes offered by him promising high returns.
The accused has been identified as Murari Kumar Srivastav. Police said that he was arrested from Humayunpur village, Sitamari district in Bihar.
According to R K Singh, the Additional Commissioner of Police, EOW, the arrest was made on a complaint by 38 people, who alleged that a company called ‘Progress Producer Company Limited' and its directors cheated them of their money invested in the schemes offered by the firm.
“Around 531 victims invested money in these schemes. The directors of the company collected around Rs 3.5 crore from duped investors and fled. Srivastav, along with his acquaintances, operated the company from Paharganj and targeted people from Delhi-NCR,” said the Additional CP.