New Delhi: A number of people aspire to become millionaire adopting short-cut methods, but they end up getting cheated losing their hard earned money. A similar incident has come to light at Nehru Place, where as many as 900 people were conned.

Four people floated a number of fake companies and gave advertisement in newspapers offering big profit. After accumulating colossal money, they shut their office overnight and decamped with all collections.

They duped 900 people of Rs 20 crore, police official said. The economic offence wing of Delhi Police has arrested two people, while the mastermind of the game is still at large.
SR Nandan from Lajpat Nagar chalked out a plan to earn a fast buck. He hired a person from Greater Kailash named Kamalkant Kaushik and his two other friends, Vimal Kishor Agrawal and Ram kumar Pathak, to make a company.

They took a grand office at Ansal Tower, Nehru Place, on rent and formed four companies in the fictitious names of Indus Car and Air Rentals India Ltd, Indus Global Medical Tourism and Travels, Indus Creative Fashions India and Indus Mark Vision Architect. Not only this, He also employed English speaking and smart people in the office.

Nandan gave advertisements offering lakhs of income by investing only nominal amount in these companies. He even promised to give 4 percent interest for a month and 48 percent for a year.

People got attracted and invested huge amounts in the companies. Nandan never invested the money collected from people.

In the beginning, he gave return on the invested money for winning invetors’ favour. But in May 2010, his nefarious designs were exposed when the cheques issued to investors got bounced.

Later, Nandan shut down his office and got away with crores of rupees. People lodged complaints with police. So far, 125 complaints were registered, the police said.

The economic offence wing of Delhi police was entrusted with the task of investigating the case. The police arrested Vimal Kishor Agrawal and Ram Kumar Pathak who are known as the proprietors of the fake companies.

According to Additional Commissioner of Economic Offence Wing Vivek Mogia, the mastermind of the gang used to tell people that he had an MBA degree and trapped people after telling them companies’ plans which suited needs of people.

JPN/ Bureau