Stock Guru in Rs 500 cr investment fraud

Nov 13 2012, 10:25 IST
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Couple promised high returns to 2 lakh gullible investors and cheated them of money: cops. (Reuters) Couple promised high returns to 2 lakh gullible investors and cheated them of money: cops. (Reuters)
SummaryCouple promised high returns to 2.5 lakh gullible investors and cheated them of money: cops

80 lakh, share investments of Rs 5.87 crore, demand drafts from three banks of value Rs 26.86 crore, properties worth Rs 5.87 crore and cash in banks is around Rs 23 crore.

"We have frozen all the accounts and questioning them to know about the rest amount," Goel said.

The couple -- Khaire, who is Class XI pass and Raksha Urs, who has done second year BA in Photography journalism – have old record of committing crime.

Earlier, the couple used to get high value credit cards in fake names and buy expensive items and disappear without leaving any trace. The first of forgery or cheating case against Khaire was registered in 2004 in Nagpur, but he managed to evade his arrest and came to Pune and worked in a call centre for few months.

"From Pune, he went to Bangalore and started working in a finance company, where he met his wife Raksha. After marriage they left Bangalore and reached Lucknow with an assumed name of Rohit and Kanchan Khatri. They then left Lucknow and went to Ahmedabad and started living as Dr Raj and Dr Priya Zaveri, From there they shifted to Bhubaneshwar," he said.

During this period, they applied for credit cards and bought expensive items and leave quietly. But when they reached Ahmedabad, banks got some hint and the couple was refused credit cards, so they went to Dehradun and opened an educational institution in the assumed name of Dr Rakesh Kumar and Dr Prachi Maheshwari.

After collecting fees and documents, the couple fled and came to Delhi to establish Stock Guru India, the Jt CP said, adding that police is now trying to trace the other co-accused.

One of the fraud victims, Ankur Sachdeva, a resident of Karol Bagh, said he had invested Rs 12 lakh in Stock Guru India and the couple had earlier kept their promises of providing good returns.

"But then, they said they were closing this business as they were unable to provide them high returns...they ran away with all the money," Sachdev told reporters.

He said the couple used to rope in celebrities and host programmes in farm houses for the investors.

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