Stock Guru in Rs 500 cr investment fraud
A couple has been arrested for allegedly duping around two lakh investors from seven states of nearly Rs 500 crore by promising them high returns on their investment through their firm dealing in stock market, police said today.
"After a hunt of one year, Ulhas Prabhakar Khaire, 33, a resident of Nagpur, and his 30-year-old wife Raksha J Urs were arrested from Maharashtra's Ratnagiri town on Saturday by the sleuths of Delhi Police Economic Offences Wing for duping over two lakh people from Delhi, Uttarakhand, Himachal Pradesh, Sikkim, Rajasthan, Madhya Pradesh and Maharashtra," Jt CP, EOW, Sandeep Goel said.
"Till date we have received 14,303 complaints in Delhi but during investigations we found that there were about 2,05,062 investors who had invested Rs 10,000 or more totalling an investment of about Rs 500 crore in Stock Guru India," he said, adding that the duo was managing to evade arrest by hiding in Moradabad, Dehradun, Alwar, Nagpur and Goa.
In Ratnagiri, the couple was living under the false names Sidhharth Jay Marathe and Maya Marathe, along with their three children.
Giving details of their modus operandi, Goel said, they had floated Stock Guru India in 2010 under false identity of Loskeshwar Dev and Priyanka Saraswat Dev.
They lured several people to invest in the firm promising them highly lucrative returns of 20 per cent per month up to six months on the principal amount followed by a subsequent refund of the principal amount in the seventh month, through prudent and source based investments in the share
