Ludhiana man, wife and relative booked for duping nephew of Rs 5 crore

The FIR has been lodged after a 10-month long investigation

A Gurdev Nagar resident, along with his wife and relative, has been booked for a fraud of Rs 5 crore on the complaint of his nephew. The FIR has been lodged after a 10-month long investigation by the police.

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The accused have been identified as Kailash Agarwal and Rajni Agarwal of Gurdev Nagar, and Manmohan Agarwal.

Complainant Rohit Gupta, 42, of Khanna alleged that Kailash, who is his maternal uncle, owns a realty firm, in which he was offered partnership in 2013.

Gupta said he bought 58% shares in the firm following which the accused made him the director.

Two years later, the accused offered him more powers on the condition that he buys 23 more shares. The accused, meanwhile, had transferred Rs 5 crore from the firm’s account to their personal accounts without Gupta’s knowledge.

Gupta said that as soon as he found out about this, he raised an objection but the accused started threatening him instead.

Assistant sub-inspector (ASI) Gurdev Lal, the investigating official, said a case under Sections 406 (criminal breach of trust), 420 (cheating and dishonestly inducing delivery of property), 467 (forgery of valuable security, will, etc), 468 (forgery for purpose of cheating), 471 (fraudulently or dishonestly using as genuine any document or electronic record), 477 (fraudulent cancellation, destruction), 201 (causing disappearance of evidence of offence, or giving false information to screen offender), 120 B (criminal conspiracy) of the Indian Penal Code has been registered against the three accused, who are on the run.