FIR lodged in ₹125 cr fraud case

PRAYAGRAJ: Civil Lines police has lodged an FIR against five persons for duping people of several crores of rupees on pretext of doubling their money through investments in different companies. The case of Rs 125 crore fraud was registered on the instructions of the court on Tuesday.

The fraud was committed in the name of several companies and the case is under investigation, police said.

On the complaint of Rajendra Kumar Maurya of Naini, an FIR was lodged against Pritam Singh, Amarjeet Singh Cheema, Gurdeep Singh of Punjab and Rajiv Kumar Niranjan and Uttam Singh of Jhansi under sections 406,419 and 420 of IPC. It is alleged that they opened a company at a building in Civil Lines area. The accused invited investments from people with an offer of doubling the money in six years and two and half times more in seven years. Hundreds of people made investments of Rs 125 crore cash in the different companies opened by the accused.

As per FIR, the accused opened Kaveri India Limited in 1998, GC Dairy in 2000, GCA Marketing in 2005, Star United in 2007, Fauna Regenerations and other companies later. The complainants made investments themselves and also pursued their kin and friends for the same. However, the companies started to close down when the time for doubling the cash came near. The complainants approached Civil Lines police but no action was taken following which they approached the court. SHO Civil Lines Ravindra Pratap Singh said FIR has been lodged and investigations will soon be initiated in this connection.