NEW DELHI: Delhi Police on Friday arrested a man who had lured over 60 people into investing in his fake investment firm on the pretext of giving them hefty monthly returns against their deposits. The man had been cheating people for the past 10 years across different states and had earned crores of rupees through his ponzi scheme.
The accused, Bhairu Lal Verma, a Class X dropout, used to introduce himself as a director of Power Real Developers (India) Pvt. Ltd. at Pusa Road. The forgery came to fore when a number of complainants approached Delhi Police’s Economic Offences Wing (EOW) saying that they’ve been cheated by Verma.
Joint commissioner of police (EOW) OP Mishra said one of the complainants, Ajay Gujral, alleged that Verma and his accomplices had been running a company by the name of Power Real Developers (India) Pvt. Ltd. at Pusa Road.
“Gujral said the accused persons used to lure people by assuring them of 20% returns per month. The accused also claimed that their company was engaged in investing in the power sector through National Stock Exchange (NSE) and Multi Commodity Exchange (MCX),” Mishra said.
He added that at least 63 other victims had invested money in Verma’s firm. “Gujral told the cops that after collecting money from the public, directors of the company closed their offices and fled,” the joint commissioner said.
A police investigation revealed that Verma’s company was not involved in any business as projected by him to the investors. “According to the report received from NSE and MCX, the company was not registered with them for any kind of business. Even according to Reserve Bank of India records, the accused’s company was never authorised to collect investment or deposits from the general public,” Mishra said.
A police team subsequently put Verma on surveillance and he was caught following a raid on Friday. Two other cases of cheating were registered against him in 2017.
“He lived with his family and has three children. Further investigation to track Verma’s other associates is under way,” Mishra said.

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