Police have arrested a man in Jaipur who had been absconding for nearly three years in connection with an alleged ₹21-lakh fraud linked to a business committee investment scheme. The arrest marks a key step in a case involving an alleged scam operated out of Kishangarh, where investors were promised lucrative profits. Two other individuals implicated in the case had already been taken into police custody earlier in the probe.
Promises of Lucrative Returns and Unpaid Funds
The case originates from a complaint lodged by a 33-year-old resident of Borada, who stated that he was approached in 2020 with an investment proposal regarding a business committee plan. The accused allegedly lured the victim by guaranteeing high returns along with a minimum monthly interest payout of 2 percent on the deposited sum. Relying on these assurances, the complainant transferred ₹16 lakh into specified bank accounts and paid ₹5 lakh in cash between August 25, 2020, and July 25, 2022.
The promised interest and principal amounts were never returned after the agreed timeframe elapsed. Following unsuccessful personal attempts to recover his ₹21 lakh, the victim approached the police, leading to the registration of a formal case and the launch of a comprehensive financial inquiry.
Three-Year Search Ends With Jaipur Raid
Investigators tracked the fund movements and established the identities of those running the scheme, subsequently arresting two suspects. The third accused, however, managed to evade authorities and was placed on the wanted list as teams monitored intelligence on his movements and hideouts. Acting on specific information confirming his presence in Jaipur, a police team conducted a raid and apprehended him, bringing his three-year run on the run to an end.
Investigators have taken the accused into custody for detailed questioning to determine his specific role in collecting the funds, managing the accounts, and coordinating with his associates.
Probe Focuses on Money Trail and Potential Victims
The investigation is now centered on analyzing the bank accounts that received the ₹16 lakh in digital transfers, alongside examining the circumstances of the ₹5 lakh cash handover. Authorities are tracing the overall flow of funds to discover how the money was handled or diverted among the suspects.
Police are also looking into whether the fraudulent scheme snared additional victims across the region. Officers are reviewing communication logs and banking records to ascertain if other individuals were targeted with identical offers of monthly interest and guaranteed returns.
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