1.93 crores were cheated along with a coal trader by luring them to double the investment amount. Surprisingly, one of the accused fraudsters is the managing director of a private company and the other accused is an accountant in the same company.
The incident took place in Dhantoli police station limits.The complainant trader has been identified as Rajesh Kumar Gaya Singh (38, Friends Colony). He is engaged in coal trading and mining and also runs a company called Abhinav Trading. He had dealt with B.S.Espat Limited regarding mill mines and then he got to know the Managing Director Bhawani Prasad Mishra. In 2022, Mishra and Sagar Kasangottuwar, an accountant in the company, invited Singh to meet him at their office at Chintamani Apartments in Dhantoli.
He pretended that if he and his acquaintances invest money in their company, then it will double it in a year. Trusting both of them, Singh took his acquaintances Brijesh Agarwal and Medha Kishore Agarwal to meet the two.Between 8 April 2022 and 29 March 2023, Singh himself transferred Rs 1.34 crore to Mishra’s account. Mishra returned 47 lakhs of it in the name of profit. But the remaining 87.35 lakhs was not paid.
Medha Agarwal had invested 58 lakhs and Brijesh Agarwal had invested 50 lakhs. But the accused did not return any of the money. Together with Singh and two others, the accused embezzled Rs 1.93 crore. The complainants repeatedly asked him to refund the money. but the accused was evasive. Singh finally lodged a complaint in Dhantoli police station in September 2023.
After preliminary investigation, the police registered a case of cheating against both the accused.The police suspect that these two accused have cheated some other traders in the city. Police investigation is going on in that direction.