‘Cheat’s’ office ransacked | delhi | Hindustan Times
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‘Cheat’s’ office ransacked

Hundreds of people on Sunday vandalised the office of a man who cheated investors by luring them into putting money in fraudulent financial schemes.

delhi Updated: Jun 08, 2009 00:19 IST
HT Correspondent

Hundreds of people on Sunday vandalised the office of a man who cheated investors by luring them into putting money in fraudulent financial schemes.

Subhash Aggarwal, missing since May 19, has allegedly cheated several people in Aman Vihar area of outer Delhi of several crores of rupees. Police have received more than 300 complaints against the accused till date.

Aggarwal had started a finance company ‘Stop Loss Commodity Private Ltd’ with four others in Aman Vihar, police said. He allegedly promised interest of Rs 1,000 every month for an investment of Rs 10,000. Later, the complainants alleged, he asked them to invest a certain amount and promised to double it within a few months.

Complainant Raj Kumar said: “I saved about Rs 3 lakh in the past 20 years. I even sold my house to give Rs 10 lakh to Aggarwal in March. He promised me Rs 20 lakhs by June. When we came to collect the money we found that the office had been locked out.”

On Sunday morning, enraged victims set up base outside Aggarwal’s office and ransacked it. Some took away chairs and sofas, while one even carried off an idol of Lord Shiva from the office.