24 bank accounts of fraud businessman frozen
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Last Updated: Wednesday, December 30, 2009, 23:33
The police said today it detected 24 bank accounts of Rupesh Verma, who was arrested here allegedly for duping investors of about Rs 2,000 crore through a finance company, and had Rs 11.54 crore in these accounts frozen.

During investigation, Verma was also found to have possessed properties in several states including Gurgaon, Mumbai, Indore, Jaipur, Nagpur and Raipur, a senior police officer said.

Bank records, documents and data fed in computers, which were seized from Verma's Delhi and Gurgaon premises, are being analysed by a "qualified chartered accountant", he said adding the recovered documents included 21,000 application forms of investors, receipt books and cash registers.

Verma, Managing Director of Delhi-based M/s Shri Om Sai Nath Car On Rent Ltd, was recently arrested from the Press Club of India on the allegations of duping investors to the tune of about Rs 2000 crore.

According to police, Rs 2.24 crore and some gold coins were recovered from his office premises at Connaught Place after his arrest.

The case is being investigated by the Economic Offence Wing of Delhi and Verma is in judicial custody at present.

A senior official of EoW said preliminary investigations showed Verma duped "a large number innocent investors of amounts running into several crores of rupees through a car-on-rent scheme by promising handsome returns on the investments.

However, suspicions of the investors arose when cheques issued by the company bounced, after which they approached the police.

"Accounts of Verma's other threee sister companies Shree Sai Cine Vision, Shree Om Sai Nath Construction Private Limited and Swiss Cabs are also being analyzed to examine the flight of funds," the police official said adding "the role of other Directors of these companies and Verma's family members, is also under investigation."

Verma's two hotels in Gurgaon, two flats and one office in Mumbai and one resort at Indore and four office premises in Jaipur, Nagpur, Indore and Raipur have so far been identified and procedure has been initiated for their attachment, police said.


First Published: Wednesday, December 30, 2009, 23:33

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