The Delhi Police have detained a man who is accused of defrauding more than 40 individuals out of their money by offering bogus schemes in the name of making a Bollywood film. Udit Oberoi, the accused, managed a company called Swag Productions and held events where he gathered investors and presented movie trailers in order to raise funds for a film. According to the police, he absconded with more than Rs 2 crores of the invested funds last year.
After 33 of the investors filed a complaint with the Delhi police in 2020, a case was launched. The accused allegedly promised high returns and claimed to collaborate with film producers and directors, according to the victims.
Some of the investors received returns at first, but the accused eventually stopped paying everyone. They discovered that the movie trailers were fake and that the accused was not creating any films when they approached the company.
According to RK Singh, Additional Commissioner of Police (Economic Offenses Wing), the company was not registered as a non-banking financial company with the Reserve Bank of India. Udit had shut down all of the company’s operations and was nowhere to be found.
To apprehend Udit, the police issued notices and conducted various searches around Delhi-NCR. The man was allegedly attempting to flee to Armenia when he was apprehended in Mumbai while filling out papers for a visa. The man admitted to his crime and is also implicated in another Sarita Vihar cheating case in 2019.
PC: https://www.theleaflet.in/delhi-police-request-sc-to-relax-direction-prohibiting-handcuffs-on-arrested-person-while-being-escorted-to-and-from-court-says-holding-prisoners-hand-will-expose-both-to-covid19/