Lookout Notice Issued Against Fraudster ₹1.77 Crore Investment Scam; One Arrested, Another Suspected to Flee Abroad

Bhopal (Madhya Pradesh): A lookout notice has been issued against a fraudster who has siphoned investors’ money to the tune of Rs 1.77 crore, said Special Task Force officials here on Monday. Earlier the STF sleuths had arrested one of the directors of the firm last month.

SP, STF Rajesh Singh Bhadoria said that two directors of DG Mudhra Connect, Prakash Chand Jain and Ravi Kumar Jain, residents of Jaipur, had opened their office here in Bhopal offering high returns to investors on the amount. They had taken the money of the investors promising to double their amount in a very short span.

They managed to collect Rs 1.77 crore from investors, however, when the time came to return the money with high returns as promised, the two fled from the city. The police had registered a case against the firm and its director in August and managed to arrest Prakash Chand Jain. The police came to know that the other accused Ravi might have escaped to some foreign country.

The SP contacted the bureau of immigration, New Delhi,  seeking issuance of a lookout notice against Ravi, so that he can be arrested if he tried fleeing to another country. The bureau has issued the notice in this connection.