Man Held For Duping People In Name Of Investment In Shares   

Man Held For Duping People In Name Of Investment In Shares   

Had cheated people to the tune of Rs 68 lakh. Had fled from city and started running a shop of herbal products in Sehore from where he was arrested.

Staff ReporterUpdated: Wednesday, September 06, 2023, 02:18 AM IST
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Man Held For Duping People In Name Of Investment In Shares    | Representative Image

Indore (Madhya Pradesh): A man was arrested on Tuesday for duping some people of Rs 68 lakh on the pretext of investing their money in the share market.

After taking money from the complainants, the accused had fled and had also switched off his mobile phone a year ago.

Additional DCP (crime) Rajesh Dandotia said that several people had lodged a complaint that they had been duped lakhs of rupees by a person who promised to earn them a good return within a short time.

A team was constituted to investigate the case. During the investigation, the crime branch officers came to know that a person named Ashish Sahu, a resident of Bhopal and present resident of Sehore had taken money from the complainants in his bank account in 2021-22 and he had promised them to give a good return by investing their money in the share market.

He collected money and fled after switching off his mobile phone. The accused had introduced himself as an investment advisor and an expert in the share market.

He first gained the trust of the people and took their money. The accused also gave some profit to the complainants to gain their trust. Later, he took more money (about Rs 68 lakh) from them and fled the city.

A case has been registered against the accused under section 420, 409 of the IPC and started a search for him. The crime branch officials came to know that the accused was staying in Sehore and a crime branch team went there and arrested him.

The accused used to work with a company from where he learnt how to dupe people. He is being questioned further. He was running a herbal products shop in Sehore.   

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