Delhi: Man arrested for cheating investors in the name of producing a Bollywood movie

The accused, identified as Udit Oberoi, ran a company called Swag Productions and conducted events where he invited investors and showed movie trailers to get money for a film.

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Two of the accused were chased and caught by the police team minutes after the incident on Monday. (Representational Image)

The Delhi Police arrested a man who allegedly cheated more than 40 people of their investments through bogus schemes offered by him in the name of producing a Bollywood film. The accused, identified as Udit Oberoi, ran a company called Swag Productions and conducted events where he invited investors and showed movie trailers to get money for a film.

However, last year he absconded with more than Rs 2 crores of the invested amount, said the police.

A case was registered with the Delhi police after 33 of the investors lodged a complaint in 2020. The victims alleged that the accused promised high returns and said he works with film producers and directors.

Initially, some of the investors received returns but later the accused stopped paying everyone. When they approached the company, they found that the movie trailers were fake and the accused wasn’t producing any film.

RK Singh, Additional Commissioner of Police (Economic Offences Wing), said, “We found that the company wasn’t registered with Reserve Bank of India as a non-banking financial company. Udit had closed all company operations and couldn’t be traced.”

During the investigation, the police sent notices and conducted several raids in Delhi-NCR to catch Udit. The Police said the man was trying to flee to Armenia and was arrested while he was in Mumbai doing paperwork to get a visa.

The man confessed his crime and is also involved in another cheating case of Sarita Vihar in 2019.

First uploaded on: 21-09-2021 at 12:03 IST

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