STOCK MARKET BSE NSE

Kerala man held for swindling Rs 4 crores promising high returns

He told investors that they would be made partners in his business. Jithin reportedly started his business by 2017. Later he began inviting people to invest in his firm.

Published: 25th October 2021 01:25 AM  |   Last Updated: 25th October 2021 01:38 AM   |  A+A-

Handcuffs, Arrest

For representational purpose.

By Express News Service

THIRUVANANTHAPURAM: The Nedumangadu police on Saturday, October 23, 2021, arrested a 31-year-old man for allegedly swindling Rs 4 crore from the public. Jithin J of Nedumangadu was arrested from Vattappara by a team led by ASP Raj Prasad. Jithin allegedly duped the public by offering them 2-18% interest for their investments.

He told investors that they would be made partners in his business. Jithin reportedly started his business by 2017. Later he began inviting people to invest in his firm. The police said Jithin made the investors believe that he had business operations in Dubai, Singapore, Delhi, Mumbai and other cities. The police said Jithin received investments ranging from Rs 1 lakh to Rs 45 lakh. As Jithin defaulted in his payments, the investors filed a complaint.

Fake online ad: Pune native held for duping youth of Rs 10 lakh

The city cyber crime squad have arrested a 40-year-old Pune native for duping a Vallakkadavu native of A10 lakh by posting a fake advertisement in an online shopping portal. The police said Shailesh Sivaram Shinde floated fake advertisements in a shopping site and swindled the cash from the youth.

Shinde had offered to sell the Vallakkadavu native expensive electronic gadgets at a discount. When the youth contacted Shinde, he was told to pay various clearance charges. He was promised the clearance charges will be refunded during delivery of the products. As the youth realised the fraud, he lodged a complaint with cyber police station. City Commissioner Balram Kumar Upadhyay formed a special team to nab the accused.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp