Indore (Madhya Pradesh): Police arrested two people in connection with an alleged Rs 1.43 crore fraud promising profits from investment in grain market trading, crime branch officials said on Friday.
According to additional DCP Rajesh Dandotiya, the suspects have been identified as Gaurav Jain and Akash Jain. Police said Kawaldeep Singh Reen, a resident of Bhicholi Road, filed the complaint. According to the complaint, the suspects allegedly assured him that his money would increase if he invested in the grain market business.
The complainant allegedly transferred Rs 1.43 crore through bank accounts at different times. When he later asked for the money back, the suspects allegedly failed to return the principal amount and promised profits.
During the investigation, police checked bank accounts, mobile numbers and other documents linked to the case. Police said they had earlier registered eight cases against Gaurav Jain and two against Akash Jain. Police are questioning the suspects about the transactions. Police are also investigating the possible involvement of other people in the case.
7 Held As Probe Exposes Trade In Mule, Rented Bank Accounts In Indore
Police arrested seven people in two separate cases on Saturday for allegedly supplying bank accounts for cyber fraud transactions. While Hira Nagar police arrested four men for allegedly renting out bank accounts, Vijay Nagar police arrested three people for allegedly buying and selling mule and fake bank accounts.
Police seized SIM cards, ATM/debit cards, bank passbooks, chequebooks and mobile phones during the two operations.
