Even NSG commandoes are not safe from cheats | delhi | Hindustan Times
Today in New Delhi, India
Jan 22, 2017-Sunday
New Delhi
  • Humidity
  • Wind

Even NSG commandoes are not safe from cheats

delhi Updated: Jun 17, 2009 00:22 IST
HT Correspondent
HT Correspondent
Hindustan Times
Highlight Story

It’s raining cheats in Delhi. The police have registered a case against a man who allegedly duped investors, including National Security Guard (NSG) commandos, of crores of rupees.

The police said the accused, Naveen Kumar Sharma, had floated two financial companies—Money Mantra and Big Leap—and promised 10 per cent returns on the amount invested.

The police said that Sharma initially used to return the money. But recently he was unable to do so since the stock market crashed due to the economic slowdown.

In the past few week, two such cases of people cheating gullible investors by promising huge returns have surfaced.

“So far we have received 28 complaints against Sharma. These people have alleged that Sharma had duped them to the tune of Rs 1.5 crore,” said Amulya Patnaik, joint commissioner of police (crime).

“A case of cheating and criminal breach of trust has been registered against him.”

Ranjeet Sinha, a complainant, said that Sharma had assured him and several others, including NSG commandoes, of 10 per cent interest every month on their investment in his companies.

“He could not keep his promise after November when the share market crashed. He went missing in December but surfaced again in March and assured us he would return our money, ” said Sinha.

When the investors checked his bank account, they found that Sharma had only invested 15 per cent of our money in the share market and rest he allegedly gambled, Sinha said. Sharma went missing again in April this year.

Sinha said the register maintained by Sharma allegedly included the names of several NSG commandos, including Sandeep Unnikrishnan who died fighting the terrorists during the 26/11 Mumbai attacks.

The police said Sharma had placed an advertisement in newspapers promising high returns on his investment.

On Sunday the duped investors had staged a protest in Delhi Cantonment area.