Absconding criminal held; duped investors

New Delhi, March 23

A 42-year-old wanted criminal has been arrested from Noida for allegedly duping people on the pretext of high returns on investing money in his company, an official said on Thursday.

The accused has been identified as Subhash Nagar, a resident of Gautam Budh Nagar in Uttar Pradesh. He had been absconding since 2020 in a multi-victim case registered at the economic offence wing (EOW) and a reward of Rs 50,000 was also declared on his arrest.

According to the crime branch of the Delhi Police, inputs were received that Subhash, who was wanted in a cheating case, would come near Sector 8, Noida, following which a trap was laid and the accused was arrested near Jaypee Store in the area.

On interrogation, he disclosed that in 2017, he came in contact with Udit Oberoi, a resident of Ghaziabad arrested earlier, through his cousin Parmod Nagar and to make easy money, all three started a company, Swag Production Private Ltd, to produce a film.

“Subhash was one of the directors of the company. The accused used to show documents of the company and ask people to invest in feature films, TV, commercials and shorts films,” said Ravindra Singh Yadav, Special Commissioner of Police (Crime). — IANS

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