Delhi Police EOW arrested three who forged signatures of govt functionaries to commit frauds
New Delhi, March 27
The Delhi Police EOW arrested three from Andhra Pradesh and Karnataka for allegedly forging signatures of government functionaries of Ministry of Finance and duped several.
The accused were identified as Prasad Krupa Rao Bolapati, Jagdish Bolapati, Jayaram Reddy and Vantimi Sudarshan Kumar whobwere traced at Andhra Pradesh and Karnataka.
The EOW had received a complaint starting that fake signatures of senior government functionaries were being used to dupe a large number of innocent victims. Tarak Nath Pagadala had reported to Ministry of Finance that Prasad Krupa Rao Bolapati and Jagadish Bolapati had represented to him that the business deal of precious metals with IMPI (International Precious Metals Institute of USA) amounting Rs. 80,000 Crore is pending with Ministries. In order to make him believe that the business transaction is genuine; he was also shown various letters purportedly issued from senior government functionaries having reference to the said business transaction.
The officials added that the accused persons induced him to infuse funds in the said deal on the assurance that proportionate share in the profits shall be shared with him. On being so induced, Tarak Nath Pagadala and others gave an amount of Rs. 20 Crore to the accused persons. The accused persons again deceptively induced complainant to give Rs. four crore since RBI was holding release of the funds. The EOW had registered a case against them in March 2019.
During investigation, two victims who were cheated by the accused persons of Rs. 75 lakhs had approached EOW with their grievances. The probe confirmed that the signatures of senior government functionaries have been forged on the said letters and same have not been issued by the Ministry of Finance and RBI. The accused were traced at AP and Karnataka. They were the beneficiaries of the cheated money.
The EOW conducted several raids at Andhra Pradesh to arrest the accused. The accused had approached the Ld. Sessions Court seeking anticipatory bail on the ground of settlement with the victims. Considering the settlement, the Ld. Sessions Court admitted the accused persons to anticipatory bail.
The EOW explained that the accused on the strength of forged documents of Ministry of Finance under the forged signatures of senior government functionaries, collected money from victims alluring them with the idea that huge profits shall be shared with them on successful completion of business transaction. There was no real business transaction.
