New Delhi, Sep 19 (PTI) A man has been arrested for allegedly cheating people by luring them to put their money in investment schemes by promising high returns, police said on Saturday.
Bhairu Lal Verma, who was absconding for 10 years, was arrested on Friday, they said.
According to a police complaint, Verma and his accomplices had been running a company at Pusa Road. They lured people to put their money in fraudulent investment schemes and promised monthly returns as high as 20 per cent, a senior police officer said.
'The accused used to project that their company was engaged in investing in the power sector through exchanges NSE and MCX generating huge profit,' Joint Commissioner of Police (EOW) O P Mishra said, adding after collecting the money, they shuttered the company offices fled.
During the investigation, it was revealed that the company was not listed in the NSE or MCX. According to RBI record, the company was not authorised to collect investment or deposits from the public, police added. PTI NIT NSD NSD