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300 people duped of Rs6 crore

Published: 05 Nov 2014 - 07:07 am | Last Updated: 19 Jan 2022 - 09:19 pm


New Delhi: A 41-year-old man has been arrested for duping 300 people of Rs6 crore by persuading them to invest in Ponzi schemes of a marketing company on the pretext of doubling their money in six months, police said. Sukhdev was arrested on Saturday near Dwarka Sector 14 in west Delhi where he had gone to meet someone. “Sukhdev, Narender Satoha and his wife Anita Satoha had raised a company in 2008 in the name of Almandine Marketing Pvt Ltd with an office in Dwarka North. “The company created a Ponzi scheme with the promise to double the amount within six months. More than 300 people invested over Rs6 crore in the company and the owners fled after collecting the amount,” said Joint Commissioner of Police (Crime Branch) Ravindra Yadav. A Ponzi scheme is a fraudulent investment plan promising high rates of return.
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IANS