Man arrested for cheating over 100 people of `5 crore

A marketing professional, LIC agent, property dealer, and now a cheat who was evading arrest for the past one year, was arrested by a team of Crime Branch’s special task force for cheating more than 100 persons to the tune of `5 crore by luring them into fake schemes promising huge dividends.

The 36-year-old was adjudged a proclaimed offender by the court and a reward of `50,000 was also declared on his arrest.

According to police, information was received on October 9 about the accused, Sanjay. The informant told the police about the accused coming to Lucknow to meet one of his relatives. A trap was laid near the relative’s house and at the railway station at Badshah Nagar in Lucknow.

Sanjay had altered his appearance dramatically. However, after confirming his identity, police apprehended him at about 3.15 pm from outside the railway station.

During questioning, Sanjay told the police that after quitting a marketing job in a private company, he had started working as an LIC agent and a property dealer. Owing to the nature of these jobs, he had built a vast network of acquaintances.

When recession hit the property business — and to make use of his vast network — Sanjay planned new financial schemes to lure gullible persons by promising them huge returns on their investment.

As people were already connected to him and were doing financial dealings with him on the pretext of LIC policies, he convinced them easily to invest in his financial schemes.

After cheating more than 100 persons, Sanjay ran away along with his family to Dhanbad in Jharkhand and started living there since last year.