LUCKNOW The Special Task Force (STF) arrested a man in Lucknow for allegedly duping more than 200 people of Rs 200 crore. The accused Mukesh Singh, in his forties, floated at least six firms and lured people to invest in them, promising good returns, said police.
Around 200 people from Lucknow and adjoining districts had filed complaints against him and his firms at the Vibhuti Khand police station, alleging fraud. On Monday, the police arrested Singh in Lucknow.
Besides six firms, in which his family members were directors, Singh owned a hatchery and 100 bigha land in Lucknow, said police.
“He promised people 13% interest on investments. When he collected around Rs 200 crore, he stopped paying back investors,” said Vishal Vikram Singh, officiating SSP.
Complainants said Singh’s companies promised to double investments within 16 months. But gradually, these firms stopped paying the money back. Gradually, Mukesh Singh shut his offices and disappeared, said police.