Businessman goes missing with investors’ money

A businessman has allegedly fled with investors' money from the Capital. He had allegedly collected crores of rupees from around 3,200 investors, reports HT Correspondent.

A businessman has allegedly fled with investors' money from the Capital.

HT Image

He had allegedly collected crores of rupees from around 3,200 investors.

Around 800 investors of Gurgaon-based Money Mantra and Big Leap, two companies owned by Naveen Kumar Sharma, staged a protest at Delhi Cantonment in Southwest Delhi demanding police action against the company’s owner.

Sharma had reportedly promised ten per cent interest every month on the investments and had paid up till November 2008.

Ranjit Sinha, an elected member of Money Mantra Investors’ Association, said a large number of investors were from the Army, Navy, Air Force and the National Security Guards.

Sinha said NSG hero Sandeep Unnikrishnan, who died in the Mumbai terror attack, had an investment in the company that was returned by Sharma after the tragedy. However, the claim could not be verified.

Sharma reportedly had suffered losses because of the economic downturn.

Sharma or his family could not be contacted for comments.