Two from Delhi arrested for cheating Ahmedabad businessman of Rs 11.6 crore

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Two from Delhi arrested for cheating Ahmedabad businessman of Rs 11.6 crore

Two persons from Delhi were arrested by the Cyber Crime Cell here for allegedly cheating an Ahmedabad-based businessman of Rs 11.6 crore by luring him with high return rates on fake insurance polices, shares, government bonds and mutual funds.

According to officials, two accused Saurabh Giri (25) and his father Brijesh Giri (50) were arrested from Bhajanpura area of New Delhi on February 5 night, days after an FIR was lodged at the Cyber Crime police station in Ahmedabad.

The victim Pratap Avatani, 63, a garment businessman, invested Rs 11,06,71,824 from 2016 to 2019 in several policies, shares, mutual funds and government bonds, at the behest of a few persons who allegedly contacted him as representatives of HDFC Bank. Avatani claimed that he was contacted by a total of 96 persons in the past three years and he also shared details of 186 cheques that he deposited in various bank accounts.

“The main accused Saurabh Giri used to work as tele operator for HDFC Bank in Noida in 2016. Later, the call centre closed down. However, Giri along with his five colleagues, collected data of all the existing customers of HDFC insurance policies. Later, they contacted Avatani offering him 18 to 24% return if he invests in different policies, shares, government bonds. Giri produced fake certificates from the Union ministry of finance, Reserve Bank of India, Income Tax department and Governing Body of Insurance Council, as well as fake SBI Fund Cancellation letter, HDFC payment releasing statement, No Objection Certificate from National Payment Corporation of India, and documents from Insurance Development and Regulatory Authority of India. His father Brijesh was also involved in the conspiracy and we found Rs 3 crore in the account of Saurabh by the end of December, 2019,” said a senior officer of Cyber Crime.

Police have found bank accounts with branches in Delhi, Noida, Ghaziabad, Gorakhpur, Muradabad, Faridabad, Gonda and Jalandhar to which payment was done by the victim over the years. “There are five other accused in this case, who are absconding. We are looking for them,” added the officer.

Both the accused have been arrested under Indian Penal Code sections 170, 417, 419, 420, 406, 465, 467, 468, 469, 471 and 120B for impersonating a public servant, cheating, cheating by impersonation, fraud, criminal breach of trust, forgery, forgery of document for exchange of valuable security, forgery for cheating, forgery for harming reputation, using genuine as forged and criminal conspiracy respectively along with sections of the Information Technology Act.

(this content is taken from for knowledge basis and for news updates)




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