63-year-old woman,son held for duping investors

A 63-year old woman and her son were arrested in the Capital for allegedly duping a large number of people after promising them a high rate of interest on investments in various schemes floated by their companies.

A 63-year old woman and her son were arrested in the Capital for allegedly duping a large number of people after promising them a high rate of interest on investments in various schemes floated by their companies.

The arrested persons have been identified as Kitabun Nisha (63) and her son,Anwar Azad (36). They were apprehended on Monday,following investigations into complaints filed as early as 2007 by victims who claimed that they had lost their money.

The mother-son duo had floated two companies M/s Shresthapriya Finance and Investment Ltd at Shakarpur and M/s Popular Savinvest Ltd at Laxmi Nagar in 1990 and 1996 respectively.

Tapas Kumar,Kitabun Nisha,Anwar Azad,K D Singh,Kalyan Biswas and Inder Deo Singh were the directors of these companies. They lured the public into investing in the schemes floated by the said companies through their agents as well as newspaper advertisements, said Vivek Gogia,Additional Commissioner of Police (EOW).

Finally,they had collected around Rs 1 crore from a large number of investors, the officer said. When the time came for the accused to pay up on their promises,they shut shop and fled.

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