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| CB Jammu books cheat in Rs 1.14 cr fraud of profits in business | | | Early Times Report
JAMMU, Apr 15: Crime Branch (CB) Jammu registered a criminal case under relevant sections of law against two fraudsters and their other associates for hatching criminal conspiracy and cheating the complainant of the case besides other people of their hard earned money to the tune of Rs 1.14 crores by luring them with the promise of high profits on their investments in the business run by the accused.
The accused have been identified as Jagandeep Singh, S/O Ranjitsingh R/O Simbal Camp, Jammu, Ajit Pal Singh, S/O Saroop Singh R/O Simbal Camp, R.S Pura Jammu and others.
The case owes its origin to a written complaint lodged by the complainant viz Jasmeet Singh S/O Gajinder Singh R/O Sector No 6 Lane No. 8 Nanak Nagar, Jammu, alleging inter alia therein, that the accused Jagandeep Singh approached him to lend money for sale/purchase of properties. He initially desisted but on strong persuasion by the accused he agreed to invest some amount. The accused in order to gain the confidence of the complainant with dishonest motive to cheat 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 relative 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 the purpose of 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 time to time but he kept on delaying. The accused issued a number of cheques to the investors to the tune of Rs. 83,00,000 but the same were bounced and dishonoured 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 enquiry has prima facie substantiated the allegations against the accused. The omissions and commissions, thereof, on the part of accused Jagandeep Singh, Ajit Pal Singh and others prima facie constitute offences punishable u/s 420, 120-B IPC. Accordingly, a formal criminal case is registered in P/S Crime Branch, Jammu against the accused for in-depth investigation. |
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