One held for ponzi fraud | delhi | Hindustan Times
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One held for ponzi fraud

delhi Updated: May 22, 2013 02:11 IST
Ponzi fraud

A multi-level marketing company owner, who allegedly cheated over 250 people of more than R1 crore and escaped to Dubai, was arrested as soon he arrived at the Delhi airport here, police said on Tuesday.

The Economic Offences Wing (EOW) of Delhi Police arrested Amit Kothari, a resident of Paschim Vihar in Delhi who is presently residing in Saeed Tower at Sheikh Zayed Road in Dubai, from IGI airport on May 15 when he returned from Dubai.

Kothari’s partner and co-accused Manoj Sharma of Delhi’s Yamuna Vihar locality is still absconding.
Police said the duo had formed a multi-level marketing company — Maximus Trade Incorporation — and launched schemes in January 2010.

“They assured a return of 15-20% per month on the investments made by the investors. After collecting crores of rupees from general public, the accused closed their web site and went missing,” said KK Vyas, DCP Economic Offences Wing (EOW).