The Crooked Mogul: Unmasking a ₹200 Crore Scam
New Delhi: ANN News has uncovered startling evidence of a vast financial fraud allegedly orchestrated by a prominent businessman and his close associates, accused of defrauding citizens of more than ₹200 crore.
According to documents reviewed by ANN News, the accused enticed investors with promises of extraordinary returns in trading, gold markets, and fictitious companies. Victims were assured of guaranteed profits of up to 50 percent. But once funds were deposited, investors were met with bounced cheques, false assurances, and vanished promises.
In one case, a family reported losses of ₹31 lakh. The businessman allegedly issued cheques and Paytm transfers as supposed repayments, many of which bounced due to insufficient funds. Despite repeated appeals, the family never recovered their money.
Modus Operandi
- Associates posed as financial advisors to win investors’ confidence.
- Investors were promised high returns from share trading and exclusive investment packages.
- Initial small payouts were made to create credibility before larger sums were solicited.
- Bogus cheques and online transactions were used to delay or deflect complaints.
Investigators believe this could be only a fraction of the total fraud, with multiple victims now stepping forward. Allegations suggest the scheme was run with the trappings of a corporate empire — exploiting loopholes, manipulating trust, and intimidating those who demanded refunds.
Legal experts say that, if substantiated, the charges could extend to cheating, forgery, and criminal conspiracy under the Indian Penal Code.
ANN News will continue to follow this developing story, bringing exclusive evidence, first-hand testimonies from victims, and further revelations about the intricate web behind one of the country’s most audacious financial scams.
