Noida couple arrested for duping over 200 people to the tune of over 5 crore

By, Noida
Mar 20, 2023 11:32 PM IST

The two suspects, Vijay Kishan Jaiswal and Rashmi Jaiswal, are residents of Gulshan Ikebana society in Sector 143, Noida

The Gautam Budh Nagar Police arrested a 40-year-old man and his 35-year-old wife on Monday for allegedly duping more than 200 people in cities such as Delhi, Noida, Bareilly, and Goa out of over 5 crore on the pretext of quadrupling their investments in a marketing firm run by the couple.

Acting on a tip-off, investigators laid a trap and arrested the two suspects from the FNG road underpass in Noida’s Bahlolpur on Monday. (Representational Image)
Acting on a tip-off, investigators laid a trap and arrested the two suspects from the FNG road underpass in Noida’s Bahlolpur on Monday. (Representational Image)

The two suspects, Vijay Kishan Jaiswal and Rashmi Jaiswal, are residents of Gulshan Ikebana society in Sector 143, Noida, according to Amit Kumar Maan, station house officer of Sector 63 police station. They established a marketing company in Sector 63.

“In June of last year, a resident of Sector 141 filed a complaint at Sector 63 police station saying that the two suspects had duped him out of 7.83 lakh under the guise of returning him four times his invested amount. The complainant also said that when he asked for his money back, the two suspects threatened him with dire consequences,” said Maan.

“We then registered a first information report under sections 420 (cheating), 409 (criminal breach of trust by a public servant, banker, merchant, or agent), 323 (voluntarily causing harm), and 506 (criminal intimidation) of the Indian Penal Code,” he added.

Acting on a tip-off, investigators laid a trap and arrested the two suspects from the FNG road underpass in Noida’s Bahlolpur on Monday, said Maan.

According to police, the suspects established a company called Udivo Marketing Private Limited. Maan described the suspects’ strategy, saying they would entice people by promising a four-fold return on their investment.

“The suspects would take 11,000 from their victims and promise them 44,000 in four months. They would entice people with claims of becoming wealthy quickly in exchange for money invested in the company, as well as bonuses and other offers. They have been active since April 2019 and we suspect them of having defrauded at least 200 people,” a senior officer said.

The police have seized the company’s bank accounts. “We have also impounded two cars costing 20 lakh each from the possession of the suspects, which they said they bought with money stolen from their victims. Further investigation is underway,” the SHO added.

According to the officer, a court remanded the two suspects in judicial custody.

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