Excelsior Correspondent
JAMMU, Feb 3: The Crime Branch (CB) Jammu has filed a case against five top executives, including the CEO of a company, who are accused of duping 10 Jammu residents of Rs 2.95 crores.
Follow the Daily Excelsior channel on WhatsApp
A Crime Branch official said that among those who were booked are residents of Punjab, Himachal Pradesh and Haryana.
According to him, Rahul Verma and Rajeev Verma (CEO of the company) of Gurdaspur, Punjab; Pardeep Saini of Haryana, Raman Awasthi and Rishi Sharma of Himachal Pradesh, and others, are accused of convincing the victims Parshotam Kumar son of Girdhari Lal of Satwari and nine other individuals of Jammu, to invest in a business plan called New York Live Trade.
He said, the company claimed to be registered in the UK and offered investments in sectors like Forex, Cryptocurrency, and commodities trading.
The victims, who initially received timely payouts and commissions, were persuaded to invest large sums of money into the scheme, the CB official said.
However, in 2023, the company’s website shut down unexpectedly and the accused stopped responding to the victims’ attempts to contact them, he said.
Accordingly, the CB official said the Crime Branch has filed an FIR under sections 420 (cheating), 120-B (criminal conspiracy) of the IPC, and 66-D (cyber fraud) of the IT Act and started further investigation into the matter.
Senior Superintendent of Police (SSP) Benam Tosh confirmed that the case is being thoroughly investigated based on the complaints and initial findings.
Follow our WhatsApp channel
