Man arrested for cheating over 20 firms of ₹3.5 cr via bounced cheques in Gurugram

A 24-year-old man was arrested for cheating over 20 companies of ₹3.5 crore by issuing bounced cheques after procuring goods.

A 24-year-old man has been arrested for allegedly cheating over 20 companies of around ₹3.5 crore by procuring goods from their establishments and issuing cheques which would later get bounced, police said.

An FIR was registered under sections 318 (cheating), 316 (criminal breach of trust), 336 (forgery) and 61 (criminal conspiracy) of the Bharatiya Nyaya Sanhita (BNS). (Representative photo)

The accused, a resident of Sector 5 in Gurugram, was arrested by the Economic Offences Wing (EOW) on Friday in connection with the case.

According to police, the case was registered at Sector 14 police station in October last year after representatives of over 20 companies filed a joint complaint alleging that the accused and his associates had procured goods such as spices, cumin, almonds and other products worth crores from various firms and issued cheques assuring prompt payment.

Investigators said the cheques later bounced, and the accused allegedly refused to clear the dues. Police said the accused would later sell the goods to other customers and later shut the office and became untraceable.

An FIR was registered under sections 318 (cheating), 316 (criminal breach of trust), 336 (forgery) and 61 (criminal conspiracy) of the Bharatiya Nyaya Sanhita (BNS).

During interrogation, the accused allegedly admitted that he and his associates procured goods from the complainant firms before further selling them in the market, police said. Officials added that bounced cheques were issued in the name of his firm to delay payments and mislead suppliers.

Police said the accused was produced before a court on Saturday and remanded to police custody for five days. Investigators said efforts are underway to identify other people involved in the alleged fraud and trace the money trail linked to the transactions.