The Hindu : New Delhi News : NRI woman allegedly cheated

Online edition of India's National Newspaper
Tuesday, Jan 10, 2006

New Delhi

New Delhi

NRI woman allegedly cheated

Staff Reporter

Chartered accountant held on charge of swindling her money meant for investment

NEW DELHI: A chartered accountant has been arrested by the Economic Offences Wing (EOW) of the Delhi police for allegedly cheating a non-resident Indian of lakhs of rupees on the pretext of putting her money into profitable investment ventures. His wife was also allegedly involved in the conspiracy.

Sixty-five-year-old Champak Bagla, a resident of Greater Kailash-II, had lodged a complaint with Chitranjan Park police alleging that chartered accountant Rajeev Grover and his wife Mamta Grover had taken more than Rs. 60 lakhs from her in the name of making investments but they gave her nothing in return. When she demanded her money back, the accused also began threatening her.

Investigations revealed that the elderly woman had come to know Rajeev through a common friend. She had expressed her desire to sell a house she owned in D-Block, Greater Kailash-I, and invest the money to ensure regular income at profitable rates. Rajeev and his wife impressed her with their claims that they had wide client base and good connections.

Believing Grovers, Ms. Bagla sold her Greater Kailash house and gave the money to Rajeev for investment.

Firm director arrested

The director of an agro company has been arrested for allegedly cheating Oriental Bank of Commerce of Rs. 28 crores by producing fabricated balance sheets to avail of credit facilities. The accused had been evading arrest for the past three years.

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