Jammu Crime Branch books gang in fraud case

TNN Bureau. Updated: 4/16/2021 10:47:57 AM Jammu and Kashmir

Jammu: The sleuths of Crime Branch Jammu registered a criminal case against a gang for cheating the public to the tune of Rs 1.14 Crores promising high profits on their investments in the business run by the accused.
The case has been registered against Jagandeep Singh of Simbal Camp, Jammu and Ajit Pal Singh of Simbal Camp, R.S Pura Jammu, and others.
The case owes its origin to a written complaint lodged by the complainant viz Jasmeet Singh of Sector No 6, Lane No 8, Nanak Nagar, Jammu, alleging inter alia therein, that the accused Jagandeep Singh approached him to lend money for the sale/purchase of properties.
He initially desisted but on strong persuasion by the accused he agreed to invest some amount. The accused to gain the confidence of the complainant with a dishonest motive to cheat paid some profits as agreed within the stipulated time.
So he started giving him more and more money. The accused convinced him to tell his father and other friends also to invest with the accused.
Accordingly, his relatives and friends also invested and transferred different amounts into the account of the accused. In this was Rs 1,14,000,00 was transferred into the account of the accused both in cash and transfer of money for investment into the properties in the account of above named accused.
The accused stopped giving back the returns in the year 2019 and all of them approached him from time to time but he kept on delaying.
The accused issued several cheques to the investors to the tune of Rs 83,00,000/- but the same was bounced and dishonored for insufficient funds.
The accused has also given some hundies and affidavits against the amounts.
On receipt of this complaint, a preliminary verification was conducted by Crime Branch Jammu. The material evidence gathered during inquiry has prima facie substantiated the allegations against the accused.

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