The police have arrested more than 25 experts, including a person of village Thua and cheating one crore rupees from relatives, by pretending to be a big profit on investment. The arrested person has been identified as Prakashchand Jain, a resident of Lal Kothi in Jaipur, Rajasthan.
Prakashchand Jain is accused that he took himself into confidence by describing himself as a representative of a large private investment company and lured him to get double profit in a short time. The accused made access to other villagers and experts through a person resident of village Thua and grabbed crores of rupees through fake investment schemes.
When the victims neither received the profit on time nor did they get back their deposits, they complained to the police. In view of the seriousness of the case, the police started quick investigation and arrested the accused from Rajasthan on the basis of technical surveillance and evidence.
Preliminary investigation has revealed that the accused Prakashchand has been involved in many such schemes before and he has cheated millions of rupees by targeting naive people through fake companies. According to police officials, this is a well planned financial fraud, in which the accused took advantage of the sentiments and greed of the investors.
The investigating officer said that Prakashchand used fake papers, fake website and office setup to assure people. He used to choose people in rural areas who are considered reliable in society, and other people were also implicated through them.
The police have registered a case against the accused under the relevant sections and are being questioned. Also, it is also being ascertained who other people are involved in this fraud and whether the accused is related to any organized gang.
The administration has appealed to the people to take complete information before putting money in any investment scheme and must check the official evidence. Police has also said that if any other person also has a complaint against the accused, then they should come forward and inform the police station.
