NEW DELHI: A 44-year-old man, Mohit Wadhwa, was arrested for allegedly duping devotees of a spiritual guide by promising high returns on investment, police said on Wednesday.
Wadhwa, a resident of Rajouri Garden, was arrested following complaints from Gurpreet Kaur Rai and three other families, totaling 14 victims.
Wadhwa and his associates, all followers of a spiritual guide, convinced the victims to invest in various schemes in Dubai, claiming significant returns. Between September 2017 and September 2020, the victims collectively invested Rs 9 crore in multiple tranches. However, after the investments, they neither received returns nor any documents regarding their investments. During the probe, bank account statements of the victims and Wadhwa corroborated part of the transactions. Victims confirmed that they had been cheated by Wadhwa and his associates.
DCP (EOW) Amit Verma said, “Wadhwa started organising Satsangs at his residence, where he gained the confidence of many devotees by making false promises.” Verma further revealed that some of the money was invested in cryptocurrency, while the rest was used for personal luxury. Wadhwa was arrested on May 9.