The Economic Offences Wing of Delhi Police on Tuesday arrested CMD and Director of Amrapali Aadya Trading and Investment Private Limited (AATIPL) in a cheating and embezzlement case.
The accused had cheated 124 people of approximately ₹100 crore.
Joint CP (EOW), O P Mishra, said that the accused have been identified as Sanjeev Kumar Sinha and Narayan Thakur. A cheating case was registered against them in 2017.
Mr. Mishra said that EOW received a joint complaint from Pawan Kumar Chaudhary and 30 others against Sanjeev Kumar Sinha, CMD (AATIPL) and others. The complainants alleged that without the knowledge and permission of its clients, AATIPL had transferred shares of its clients to its pool accounts, pledged shares of its clients for availing funds, sold its client’s shares through its employees’ accounts and made payment to none of the clients.
During investigation, more complainants came forward and submitted written complaints with similar allegations against AATIPL. A total of 124 complainants against the accused have been received till date and the amount cheated comes to ₹100 crore (approximately). Complaints from NSE and SEBI have also been received.
“The accused hatched a well-planned conspiracy and assured them [investors] to pay lucrative incentives,” said Mr Mishra.