Man Arrested For Running Fake Investment Firm In Indore, Received Investments From Across The Country |
Indore (Madhya Pradesh): The director of a fake online investment company was arrested for duping people on the pretext of investing their money and installing EV charging stations, police said on Friday. Computers, laptops and mobile phones were also recovered from his office. A search is on for his accomplice .
Additional DCP (zone-3) Ramsanehi Mishra informed the media persons that DCP Zone-3 Hansraj Meena constituted the cyber desk to keep an eye on the online scammers. The team had received information that some people were operating a fake company named DART-EV in Baikunth Dham Colony.
The company was being promoted through social media and boys and girls were employed for tele-calling. They were given a list of mobile numbers and told to call people and entice them for investment. They used to inform the people that the company sets up EV charging stations across the country. They also told people about different slabs for investing in the company, from a minimum of Rs 4600 to a maximum of Rs 50 lakh. A promise of giving 40 to 50 percent return per annum on a monthly basis was made.
The lock-in period of the invested amount was said to be 18 months, according to which the amount transferred by the people would remain invested in the company for 18 months. They used to get a mobile app installed, which mentioned the amount invested and the profit received etc., but no facility for withdrawal of money was given through the app.
Acting on the information, the cyber desk team of Palasia police station contacted them through a social media platform posing as a customer and in response they contacted the police team through the mobile phone.
The police team found out the workplace of the accused by extracting technical information and action was taken against them. A person named Siddharth Malviya, a resident of Laxmanpuri Colony was arrested and a search is on for his accomplice Umesh Shahi.
During interrogation, the accused accepted receiving investment from different parts of the country. The accused used to promote the company through social media platforms.
Information about the total investment amount is being collected by obtaining bank account information. The police are also collecting information about the complaints made against them by investors on cyber helpline number 1930.
