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.

Please read our terms of use before posting comments
TERMS OF USE: The views expressed in comments published on indianexpress.com are those of the comment writer's alone. They do not represent the views or opinions of The Indian Express Group or its staff. Comments are automatically posted live; however, indianexpress.com reserves the right to take it down at any time. We also reserve the right not to publish comments that are abusive, obscene, inflammatory, derogatory or defamatory.