The police arrested a swindler who had cheated people on the pretext of earning profit daily by investing money in the stock market. According to the information, Siddharth Pilani salt thug has cheated more than 500 people till now.
The police officer said that we booked accused Siddharth Pramod Pillani, owner of Capital Berg, an investment firm, u/s 420, 406,409,and 34 of the IPC Act Section 3 and 4 of the MPID Act.
“We are also searching bank details and other financial transaction details. At the same time, we are also working on their clinic revenue module too, to put it aptly clear, it’s a big scam because, company do not have legal permission from the concerned authorities.” said a officer.
The MRA Marg Police have booked a fraudster for allegedly duping a number of citizens of close to Rs.30 crore on the pretext of an investment scam. The accused man contacted people through a woman and sought investments, only to later allegedly dupe them. While a case has been registered, the same was transferred to the Economic Offences Wing (EOW).
The complainant has accused that while Pilani returned Rs. 64.85 lakhs as returns on investment, the current market value of the amount is Rs.13.79 Crore with profits and bookings. Similarly, with 170 investors duped with the same modus operandi, police suspect it to be a huge investment scam to the tune of Rs.30 crore and more.
Biindu khuranna said that Pilani and his associates have been trying to defame her. She told that she has played no role whatsoever in the scam and in reality, was just as much of a victim as any of the other investors .While the EOW registered a case of cheating, criminal breach of trust, and common intention against Pilani and a capital proprietorship firm, along with sections of the MPID Act, they are probing the matter.
“The accused Siddharth Pillani after his arrested from Jaipur on 13 July, and on thorough investigation into the case, the very next day, 14 July, he was produced in Sessions Court and got five days police custody,” said Sadanand Rane ,Senior Inspector, MPID Unit,