The Delhi Police has arrested a 40-year-old property dealer allegedly involved in the `500-crore Stock Guru scam. Police said that the accused Naresh Kumar alias Naresh Kharab, a property dealer who also dabbled in stock market, was apprehended on May 6. "He was a key aide of Ulhas Prabhakar Khaire and his wife Raksha, who were arrested earlier.
They were heading M/s Stock Guru India operations in Maharashtra, Rajasthan, Punjab and Delhi," said Joint Commissioner of Police (EoW), Sandeep Goel.
Goel said that he was an important player in the MlM networking operation and had duped thousands of victims. They allegedly duped around two lakh people of Rs 500 crore. The arrests in the case came following investigations into a complaint filed by two victims after being induced to invest money in M/s Stock Guru India on the promise of lucrative returns.
"They had guaranteed to provide a 20 percent return per month up to six months on the principal amount followed by a subsequent refund of the principal amount in the seventh month, through prudent and source based investments in the share market. However, instead of returning their investments as promised, the accused suddenly shut down their office and decamped with all the collected funds," he added.
Naresh, who did MA in Sociology from MD University of Rohtak, started property dealing after he did not get a job. He also took contract of installing electric meters in Najafgarh area from Delhi Electric Supply Undertaking (DESU). However, he allegedly duped DESU during the said contract. The same is pending trial in Dwarka court. In 2009, he worked as agent in a company of Anand Group dealing in selling of plots of land near Jaipur. The next year he joined Stock Guru India as relationship manager.