Delhi: 40-year-old woman held for defrauding investors on high return promise

New Delhi, October 2

The Delhi Police has arrested a woman from Gujarat for allegedly duping around 200 people to the tune of over Rs 2 crore by luring them to invest in various schemes on the promise of high returns, officials said on Friday.

The 40-year-old woman and her friend Parveen Kumar Singh were operating a society named Jai Maa Laxmi Cooperative Thrift and Credit Society Ltd and running a clothing store at Mandawali in East Delhi, they said.

They lured the shop visitors into investing in several schemes, including those promising high-interest rates, loan, flat booking and lucky draw, a senior police officer said.

“During the investigation, it came to notice that neither any society in the name of ‘Jai Maa Laxmi Co-operative Thrift and Credit Society’ was registered with RBI as NBFC nor any Parveen Kumar Singh and his woman friend registered with RBI,” said O P Mishra, Joint Commissioner of Police, Economic Offences Wing (EOW).

They were not authorised to collect the money from the public directly in any scheme, police said.

The accused were absconding. The woman was traced in Surat in Gujrat through social media. A police team reached Gujarat on Thursday and apprehended the woman, police added. PTI