DELHI POLICE EOW ARRESTS A PONZI SCHEME FRAUDSTER WHO WAS WANTED SINCE NINE YEARS
New Delhi, March 7
The Delhi Police EOW arrested one who was wanted in an alleged ponzi scheme fraud that duped investors in Assam, Orissa and West Bengal.
The EOW identified the accused as Mukesh Bhardwaj who hails from Uttar Pradesh and was working as director of M/s Money Bhandar that has it's offices in Janakpuri and Pachim Vihar. His partner Kapil Dev Parischa is already in judicial custody in this casem
DCP EOW Mohammad Ali stated that the EOW had registered FIR in the case following a joint complaint of Rekha Paul, Subodh Mondal and Arindam De as per order U/s 156(3) CrPC of Ld. ACMM/ West, Tis Hazari Court. Delhi. The complainant's had alleged that the directors of the company namely Kapil Dev Pasricha, Mukesh Bhardwaj and others of the alleged Company namely M/s Money Bhandar, (M/s B.P. Jewelers Pvt. Ltd.) have duped investors of their money belonging to West Bengal, Orissa and Assam.
The EOW stated that accused persons allured the investors, to invest in a scheme in which high rate of interest as well as security of their investment was promised. The investment was made for a fixed period. After obtaining funds from investors, the accused company closed their offices and fled away without returning the assured sum of money to investors. Large number of investors has been duped by accused company and its directors.
The EOW officials added that during the investigation, ROC record of M/s Money Bhandar, (M/s B.P. Jewelers Pvt. Ltd.) were obtained. The documents from various banks i.e. Axis Bank, HDFC Bank, Andhra Bank, have been obtained. It emerged during investigation that the accused Mukesh Bhardwaj misappropriated the money of the investors. On verification from RBI it has been found that the company was not registered as NBFC with the RBI, hence, it was not entitled/ authorized to accept public deposits. After obtaining deposits of more than six crores from the investors on the basis of false assurances and misrepresentation, the company closed its offices and its directors went into hiding.
The officials further said that Bhardwaj was absconding since the registration of case and was declared proclaimed offender from the concerned court. Sincere efforts were made to locate the whereabouts of accused Mukesh Bhardwaj including the search at all the possible hideouts. The technical surveillance was mounted and his location was finally traced at Sant Nagar of New Delhi.
The EOW investigators stated that the accused incorporated a company under the name and style of M/s Money Bhandar. Bhardwaj, was shareholder as well as active director of the company. They changed the company's name to M/s BP Jewellers Pvt. Ltd. The directors of the accused company alleges lured innocent victims on the pretext of providing lucrative returns. In 2010, in connivance with other accused persons he conspired to open the accused company to cheat the innocent people at large, the officials added.
