3-Year Manhunt Ends! Mastermind Behind Cheating 650 Families Of Rs 4.25 Crore Scam Caught

The Economic Offences Wing (EOW) of Delhi Police has finally apprehended Chander Prakash Saini, the mastermind behind a cunning Ponzi scheme that swindled over 650 people out of a staggering Rs 4.25 crore. Saini, who had been evading arrest for a grueling three years, can now face justice.

Preying on the Vulnerable: A Fake Facade

Saini, along with his accomplices, masterminded a web of deceit through bogus finance companies named Vasundhara Group and Anakaya Nidhi. Their targets? Low-income families residing in North-West Delhi. Luring them with the promise of high returns, they offered seemingly attractive investment plans like Daily Investment Savings Accounts and Fixed Deposits.

To make their scheme appear legitimate, the accused created a convincing illusion. They issued fake passbooks and documents designed to resemble those used by real banks. To further solidify their facade, they even maintained elaborate websites boasting diversified business interests in real estate and hotels – a complete fabrication.

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After successfully collecting crores of rupees from unsuspecting victims, Saini and his associates abruptly shut down their offices and vanished into thin air, leaving behind a trail of heartbreak and financial devastation.

Relentless Pursuit: Justice Served

While Saini’s wife, Sunita Saini, who served as a co-director in the companies, was arrested in 2022, Saini himself remained a fugitive. He constantly changed his locations and meticulously avoided any digital footprint, making him a difficult target.

However, the EOW team, led by the determined SI Manoj Kumar, refused to give up. They relentlessly pursued Saini, employing a combination of sophisticated technical surveillance, raids across multiple states based on leads, and valuable local intelligence. Their unwavering efforts finally paid off when a crucial tip revealed Saini’s possible hideout in Delhi. This information proved to be the missing piece, leading to his eventual arrest.

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A Call for Investor Awareness

In light of this case, the Delhi Police is urging the public to exercise utmost caution when considering investment opportunities. They offer the following valuable advice:

• Invest Wisely: Stick to established and RBI-recognized banks and financial institutions when making investments.
• Beware of High Returns: Be wary of schemes promising unrealistically high returns, as these are often red flags for potential fraud.
• Don’t Follow the Crowd: Don’t base your investment decisions solely on what others in your neighborhood are doing. Conduct your own thorough research before committing any money.
• Initial Gains Can Be a Trap: Don’t be fooled by initial good returns offered by an investment scheme. This could be a tactic to lure you into investing more before the scammers disappear with your hard-earned money.
• Choose Reputable Options: Prioritize investment schemes offered by reputable entities like RBI-approved banks, government-backed schemes, or post office schemes.
• Verify Credentials: Always verify the credentials of any financial institution before investing. Utilize reliable sources like the official RBI website (https://www.rbi.org.in/), established financial news websites, or regulatory bodies. Don’t rely on social media influencers or advice offered through WhatsApp groups for investment decisions.

This case shows the importance of being informed and cautious before entrusting your hard-earned money to any investment scheme. By following these simple guidelines and conducting proper due diligence, you can protect yourself from falling victim to similar scams.

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