Brothers held for duping investors of Rs 10 crore

Police on Friday arrested two brothers and their associate for allegedly cheating more than hundred investors to the tune of Rs 10 crore by promising lucrative returns.

Sandeep and Manoj Shukla, both school dropouts, and Surendra Bhato floated several bogus companies and used false identities to lure investors in Delhi and Mumbai, Deputy Commissioner of Police (Northwest) P Karunakaran said.

They were arrested on the basis of a complaint from Sumitra Kumari, who alleged that the director of Max Star Infotech Pvt Ltd and Bhartico Infomedia Ltd, operating from the ninth floor of a mall in Netaji Subhash Place, had duped her. She had invested Rs 3.75 lakh and Rs 16.08 lakh in the two companies after being told that she would be made the owner of two call centres. But the companies didn't keep the promise.

Several similar complaints poured in and police arrested the trio. "Seven luxury cars, including a BMW X6, an Audi A4 and a Honda Accord, were recovered from them," an officer said.

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