Thane, Nov 26: Omprakash Yadav, the man who allegedly defrauded Railway Protection Force (RPF) employees, has recently been arrested by the Economic Offenses Investigation Branch of the Thane Police. Police estimate that Omprakash Yadav (30) has allegedly defrauded about 350 RPF officers and employees of 40 to 50 crore rupees.
So far, 40 officers and employees have lodged a complaint against Omprakash in this case, and preliminary information has revealed that he has invested heavily in property in his native village using the officers’ and employees’ money.
Promise of High Stock Market Returns Drew Victims In
It has come to light that many common citizens have been cheated in the last few years by showing the lure of good returns in the stock market. It seems that Railway Protection Force (RPF) officers were also tempted by this lure.
Omprakash Yadav from Jaunpur, Uttar Pradesh, claimed to be doing online trading since 2020 and promised high returns. He had spread the word among RPF officers that he had earned good returns for many people. This created a temptation for high returns among many RPF officers and personnel.
Initially working from Mumbai, Yadav later started his own office in Khadakpada, Kalyan. Some of his acquaintances were in the RPF, so he gained their trust by giving returns on their initial investments, and later a large number of officers and personnel got trapped in his net.
Loans, Pressure and Large-Scale Investments Deepened Losses
If an officer or employee gave a reason for not having money, Yadav used to say that he had contacts in the bank as well and could immediately get a personal loan. He had also assured everyone that he would get interest at the rate of five percent per month.
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Yadav used to say that if more investment was made, the return would also be good. Due to this, some officers and employees had taken personal loans of as much as 10 to 15 lakh rupees. And some officers had taken money at interest from their friends and relatives for investment and given it to Yadav.
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