EOW of Delhi Police Arrested Absconder of Luring Money from People

EOW Delhi Police has arrested Satnam singh S/o Piyara Singh R/o H.No 315, Fatullahpur, Kharar, Mohalli PB who was declared absconder, in case Fir No 218/08, U/S 406/420/34 IPC re 3,4,5,6 PCMC Act PS EOW.

The accused floated a company in the name of NGP Pvt. Ltd. and lured innocent people into investing in a fake scheme promising handsome return on their investment in short period. To bring in more people in his trap, he initially gave gifts to the depositors and offered handsome incentives to agents who brought deposits from the individuals. The accused used every trick of the trade i.e. organizing domestic as well as foreign tours for the agents to induce them to rope in more depositors and grew the company on the principal of multi level marketing scheme. He targeted thousands of small depositors by offering schemes with small initial deposit of Rs 300, Rs 1500, and Rs 12000 and within a small period of six seven months (Feb 2008 to Aug 2008), the company collected more than Rs1.5 Crores from hundreds of victims. After the lapse of the maturity period when depositors started demanding their returns, the accused closed the company office and went underground and had been hiding since several years without returning the hard earned money of thousands of investors.

A team was  formed under SI Rakesh Yadav under overall supervision of ACP Sh. Rajiv Midha for arresting the accused. A drive was launched for his arrest as he was avoiding arrest since several years. On technical surveillance and ground intelligence, it was revealed that the accused had been residing somewhere around Chandigarh. Further enquiries revealed that he has been operating a bank account in Axis bank, Chandigarh which ultimately led to his hideout and subsequent arrest.   

On Interrogation Accused Satnam Singh revealed that after closing the offices at Delhi he had taken refuge in Mohali (Punjab), as many people were chasing  him for the refund of their money. Accused had purchased a flat from the victim’s money which was sold later. After he left for Punjab, his brother in law Jasbir Singh another, Director, managed the affairs of the company, who is also now absconding.

Satnam singh S/o Piyara singh R/o H.No 315, Fatullahpur , Kharar, Mohali Pb is the fourth of six siblings of his parents. He has studied upto 9th class in Govt school in Uttamnagar, Delhi and is a Carpenter by profession.