The Crime Branch has expanded its investigation into an alleged ₹1 crore fraud in which a 74-year-old man was accused of taking money on the promise of providing a dealership and distributorship in Gujarat. After arresting accused Manoharlal Gupta and sending him to judicial custody, investigators are now examining his bank accounts and financial transactions to trace where the allegedly defrauded money went and how it was used.
Gupta, son of late Umashankar Gupta and a resident of Janki Nagar Extension in the Bhanwarkuan area of Indore, was arrested in connection with the case. He was allegedly associated with IHL Medicare Pvt Ltd and Infutech Healthcare Ltd in Indore as a director and key operator. Investigators are now examining financial records to establish the flow of money and determine whether other people were involved.
₹1 crore allegedly collected for Gujarat dealership
The complaint was filed by Kamlesh Agrawal, a resident of Jhalod in Dahod district of Gujarat. According to the complaint, the accused allegedly promised to arrange a dealership and distributorship for the Gujarat region and collected money from him in different instalments.
The complainant alleged that a total of ₹1 crore was paid in two amounts of ₹50 lakh each. According to the complaint, around ₹28.50 lakh had initially been paid as distributor margin money by July 2022. However, the promised business arrangement allegedly did not materialise.
The complainant alleged that neither the required margin money was settled nor was material supplied for starting the business. When he subsequently sought the return of his principal amount, the money was allegedly not refunded.
Threat allegations after demand for refund
Agrawal also alleged that when he demanded his money back, he was allegedly subjected to abusive language and threats to his life. Following this, he approached the Crime Branch with a complaint.
During the preliminary investigation, the Crime Branch examined bank statements, ledgers, correspondence and other documents connected with the alleged transactions. Based on the material available during the inquiry, the police found prima facie grounds for allegations related to cheating and criminal breach of trust. The case was subsequently registered after obtaining legal opinion, and the investigation was taken forward.
Bank accounts under scrutiny
The investigation has now shifted towards tracing the alleged money trail. Investigators are obtaining details of the accused’s bank accounts to determine where the money received from the complainant was deposited and whether it was subsequently transferred to other individuals, companies or accounts.
The Crime Branch is also examining how the alleged proceeds were used. Investigators are expected to look into whether the money was used for business activities, property-related transactions, personal expenses or other financial dealings.
Banking records could provide crucial information about the movement of the alleged fraud proceeds and help investigators establish the sequence of transactions. If the probe establishes that the money was transferred to other people or accounts, those transactions may also come under scrutiny.
Focus on recovery of alleged fraud amount
Apart from establishing the money trail, the Crime Branch is focusing on recovery of the complainant’s money. Investigators are examining financial documents and other records that could help identify assets or accounts linked to the alleged transactions.
The recovery process will depend on what emerges from the financial investigation. Authorities will also examine whether any portion of the allegedly defrauded amount remains traceable in bank accounts or was converted into other assets.
Accused’s son remains absconding
The investigation has also expanded to the accused’s son, who is reportedly absconding. Police teams are searching for him and examining his possible role in the alleged fraud.
Investigators are looking into how the dealership proposal was presented to the complainant, how the payments were collected and whether the accused’s son or any other person participated in the alleged transactions. The role of all individuals will be assessed on the basis of documentary and financial evidence.
For now, Manoharlal Gupta remains in judicial custody, while the financial investigation continues. The examination of bank accounts, verification of documents and efforts to locate the absconding accused are expected to provide further clarity on the alleged ₹1 crore fraud, the final destination of the money and the respective roles of those allegedly involved.
