Fraudsters booked for cheating people on pretext of huge profits


JAMMU: Crime Branch Jammu has registered a criminal case against fraudsters for cheating gullible people of Jammu on pretext of providing huge profits in business.
As per an official spokesperson of the investigating agency, the sleuths of Crime Branch Jammu have registered a criminal case under relevant sections of law against fraudsters namely Jagandeep Singh, son of Ranjit Singh; Ajit Pal Singh, son of Saroop Singh, both residents of Simbal Camp, R S Pura and others for hatching criminal conspiracy and cheating complainant besides other people of their hard earned money to the tune of Rs. 1.14 crore by luring them with promise of high profits on their investments in the business run by the accused.
Giving further details, he said that a written complaint was lodged by complainant namely Jasmeet Singh, son of Gajinder Singh, resident of Sector No. 6, Lane No. 8, Nanak Nagar alleging inter alia therein, that accused Jagandeep Singh approached him to lend money for sale/purchase of properties. He initially desisted but on strong persuasion by accused, he agreed to invest some amount. The accused, in order to gain confidence of complainant, paid some profits as agreed within 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 account of accused. In total, an amount of Rs 1,14,000,00 was given to accused, both in cash and via transfer of money for purpose of investment into properties. When, accused stopped giving back returns in 2019, all of them approached him time to time but he kept on delaying. The accused issued a number of cheques to investors to the tune of Rs. 83,00,000, but same were bounced and dishonoured for insufficient funds. The accused has also given some hundies and affidavits against amounts, he added. On receipt of the complaint, a preliminary verification was conducted by Crime Branch Jammu. The material evidence gathered during enquiry has prima facie substantiated allegations against accused. The omissions and commissions, thereof, on the part of accused Jagandeep Singh andAjit Pal Singh and others prima facie constitute offences punishable under Sections 420, 120-B of IPC. Accordingly, a formal criminal case was registered at Police Station Crime Branch, Jammu against accused for in-depth investigation.