New Delhi: The Economic Offences Wing of Delhi Police has arrested Dhirender Gaba, the Director of a private firm for cheating innocent victims by alluring them high return on investment, a police official has said.
According to the official, the case was registered on the joint complaint filed by complainant Ann Powell and 10 others against the firm Fairwealth Financial Services Ltd. and its Directors — Dhirender Gaba, Naveen Gaba, Nipun Gaba, Ankur Gandhi, among others.
The complainants alleged that these people with various misrepresentations allured them to invest money in their alleged company on the pretext of assured returns of 12 to 16.5 per cent per annum interest. A return of interest on quarterly basis was assured.
Believing the company’s Directors to be true, the complainants invested Rs 3.72 crore. The private company issued post dated cheques (PDCs) to secure the investment on the respective day of investment. The PDCs given to the complainants against their investment were dishonored on presentation.
As the police took up the case, the bank account statements of the victims as well as accused persons were obtained, which revealed money has been received in the account of the fraud company from the victims.
The reply from the Reserve Bank of India (RBI) revealed that the alleged company is not registered as a Non Banking Financial Company (NBFC) with the RBI as such not eligible to accept public deposits.
Keeping in view the severity of the matter, a team of four police officials was constituted and the accused was arrested and taken into custody to unearth the entire conspiracy.
Later, it was revealed that the accused in connivance with other co-accused allured to invest in their company by misrepresenting them of having NBFC registration with RBI with the assured returns.
“Further probe in the case is still on,” the police official added.