Police have already arrested four accused in the case, including company director Lokesh Chaudhary, Dheeraj, cashier Balveer Vaishnav, and financial assistant Narendra alias Nanu. Investigations revealed that the accused lured investors with promises of high returns through investment and forex trading schemes.

In a fresh development, police arrested two more key suspects, Hidayat Ali and Kailash Chaudhary. Officials believe both played a crucial role in collecting money from investors and channeling funds into the company. Their interrogation is expected to reveal further links in the fraud network.

The operation is being conducted under the supervision of Ajmer SP Vandita Rana, CO City IPS Ajay Singh Rathore, and Gandhinagar SHO Sanjay Sharma. Police have seized two vehicles and around ₹30 lakh in cash so far.

Investigators say several accused, including Abdul Samad, are still absconding. Meanwhile, questions are also being raised on other firms such as Efom, CMN, NFT Treasure, and Busy Wealth, accused of similar large-scale financial frauds.

The post Rajasthan VIP Trade Scam Action appeared first on India Podcast.

According to the complaint, Grewal invested the amount in 2011 based on the director’s assurances. However, he alleges that he was later misled using fake allotment letters, forged agreements, and cheques that eventually bounced. Investigation by the Economic Offences and Cyber Crime Wing revealed that the plots and showrooms supposedly allotted to Grewal were not owned by the company. Some properties had even been sold to third parties.

The DSP’s inquiry also found that registries of allotted land were never transferred to Grewal. Multiple documents bore the director’s signature, supporting the allegations. Although Pritpal Singh claimed he offered plots and issued refund cheques, investigators found his explanations unsatisfactory.

Following the inquiry, an FIR under BNS Section 318(4) was registered at Sohana Police Station. Police stated that more sections may be added if new evidence emerges.

The post Mohali: Chandigarh Resident Defrauded of ₹7 Crore in Investment Scam; FIR Registered Against Company Director appeared first on India Podcast.