Noida Police Arrests four In ”Franchise Fraud” Of Rs 30 Crore

Noida (UP):

With the arrest of 4 males, Noida Police on Saturday mentioned they’ve busted a “franchise racket” run by them to dupe round 30 crore from over three dozen individuals from a number of states.

The police additionally recovered properties price round Rs 10 crore, together with three.300 kg gold, Rs 13,54,550 money and a Mercedes automotive, from the accused individuals, a senior officer mentioned.

Deputy Commissioner of Police (DCP), Central Noida, Harish Chander mentioned the accused had floated an organization named “Hypermart”, registered in Sector 63 of Noida, and focused individuals with a suggestion of giving them a franchise retailer of the agency of their metropolis.

“They’d taken cash starting from Rs 30 lakh to Rs 50 lakh from every particular person and ultimately went untraceable. Thirty-eight such victims approached us alleging the accused males have duped them. The racket includes Rs 25 crore to Rs 30 crore,” Mr Chander advised reporters.

He added that in a probe it emerged that it was not just one firm however there have been additionally four-five extra such corporations floated by these males for a similar objective.

Extra DCP Ankur Aggarwal, who led the workforce that arrested the accused, mentioned eight FIRs had been registered solely within the final four-five days whereas up to now at the least 32 such complainants had approached Noida Police.

“We acquired complaints from Uttar Pradesh, Chhattisgarh, Maharashtra, Gujarat and acquired to know that the racketeers had focused individuals throughout the nation. They’d promised franchise to individuals and pitched enterprise fashions that will get them cash. However as soon as they acquired cash from the individuals, they shut their places of work and ran away,” Mr Aggarwal advised reporters.

These held have been recognized as Ankur alias Sonu Verma, Sunil Mistry, Ravindra Kumar, all three residents of Ghaziabad, and Sunil Kumar, who lives in Meerut, police mentioned.

The person who deliberate this scheme has been recognized as Ghaziabad resident Rajesh Kumar, who’s lacking. He additionally glided by a number of pretend names, together with Rajesh Advani, Arvind Gandhi, Sunil, R Ok Advani, Rohit Verma, Rahul Gupta, Rahul Kumar, Robert Blue, they mentioned.

Illegally accrued money price Rs 13,54,550, three.300 kg gold biscuits, 242 g silver cash, a Honda Metropolis, a Mercedes E class, a Hyundai Creta, a Maruti Swift Dzire had been seized from the accused, the police mentioned.

In addition they recovered 63 laptops, 27 cell phones, 26 thermal printers, 37 bar code scanners, 117 ATM playing cards and 96 cheque books of assorted banks, 69 PAN playing cards, 19 voter ID playing cards, 17 driving license, 23 rubber stamps from them.

The police additionally acquired a checking account belonging to one of many accused frozen, which had Rs 56 lakh, they mentioned, including that additional investigation is underway.

An FIR has been registered on the Part III police station and the accused have been booked for fraud and forgery, amongst different prices, the police added.

(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)