Jabalpur (Madhya Pradesh): A youth from Gujarat was apprehended by the police on Thursday after they seized a sum of 43 lakh rupees in cash in Jabalpur and was suspected to be associated with illicit hawala transactions.
The youth identified as Piyush Patel is a resident of Gujarat’s Mehsana district. The incident was unfolded during a routine check at Galgala Chowk. The Bellbag Police initiated necessary actions subsequent to Patel's detention.
The district police have transferred the entire case to the Income Tax Department for further investigation into potential financial irregularities.
Jaipur Firm Allegedly Defrauds Investors of Rs 1.77 Crore
Yesterday, officials reported that the Special Task Force had filed a case against a Jaipur-based firm for allegedly defrauding investors of approximately Rs 1.77 crore under the pretext of doubling their investments. SP Rajesh Singh Bhadoria disclosed that a complaint had been lodged with ADG Pankaj Kumar Shrivastava regarding the fraudulent activities of the company. Consequently, the ADG assembled a team to probe the matter.
The SP elaborated that the company had established offices in four cities—Bhopal, Indore, Jabalpur, and Chhindwara—and enticed investors with promises of doubling their investments within a year. Initially, the company appeared to fulfill its commitments by delivering the assured returns to investors.
