Jaipur, Sep 21 (PTI) A special operations group (SOG) of Rajasthan Police has arrested an alleged fraudster and two of his accomplices for duping people of more than Rs 50 crore through fake companies, officials said on Sunday.
The accused, Prince Saini alias Banshilal, from Dhoru village of Jhodhpur district, recently cheated 250 people by promising to provide an SUV for Rs 6 lakh each. The SOG arrested him before he could flee and will produce him in court for remand, Inspector General of Police (SOG) Sharad Kaviraj said.
Investigations revealed that Saini, who failed his Class 12 exams in 2017, floated multiple fraudulent firms, including Tronex World and a chain-system software company, through which he defrauded 54 people of Rs 6.48 lakh.
In 2022, he launched Grow More Education Pvt Ltd, collecting Rs 3,000 in annual fees from 2,200 students and amassing Rs 66 lakh.
Later, under the banners of Grumer Education and Harvest AI Technology Pvt Ltd, he lured investors with promises of 96 to 120 per cent returns and an SUV, collecting Rs 15 crore from 250 people, Kaviraj said.
Only Rs 2.5 lakh was found in Saini’s bank accounts, confirming his plans to escape, the officer added.
The other two arrested accused have been identified as Mamta Bhati and Dinesh Bagdi, he said. PTI AG OZ OZ
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.