Delhi Police arrests founder and CEO of Yepme.com Vivek Gaur for financial fraud
The firm declared itself insolvent and closed up, resulting in due payments and bounced cheques thereby committing fraud
New Delhi, October 17
The Delhi Police arrested founder and CEO of Yepme.com, Vivek Gaur, has been arrested in a case of financial fraud.
The police team arrested him from DLF Crest, Sector-54, Gurugram.
Gaur, along with his associate Sandeep Sharma, started VAS Data Service Private Limited (Yepme.com) in 2011, an online shopping company specialising in apparel for men and women. It was headquartered at Right Wing, 2nd floor, Orchid Centre, Golf Course Road, Sector-53, Gurgaon. Gaur was CEO while Sharma acted as COO.
The company used to take raw material from various small companies in Delhi/NCR and issued cheques to these companies. The firm declared itself insolvent and closed up, resulting in due payments and bounced cheques thereby committing fraud.
The insolvency also led to investors’ money being stuck with Gaur and Sharma, leading to multiple cases being registered against the company and the founders in multiple states under the Negotiable Instruments (NI) Act, for dishonoring cheques.
DCP (Southwest) Surendra Chaudhary stated that fresh non-bailable warrants were issued against both Sharma and Gaur on September 28.
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