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Chargesheet against commodities scam mastermind

The Economic Offences Wing of the Delhi Police has filed a chargesheet against the kingpin of a bogus investment company Subhash Aggarwal (41),who cheated hundreds of Delhi residents of several crores.

The Economic Offences Wing (EOW) of the Delhi Police has filed a chargesheet against the kingpin of a bogus investment company Subhash Aggarwal (41),who cheated hundreds of Delhi residents of several crores.

EOW sources said the commodities scam has reached around Rs 14 crore.

The chargesheet was filed in the Rohini court recently against Aggarwal,wife Sneha and two other directors of his company — Naresh Lakra and Vijay Deswal — under various sections of the Indian Penal Code,including cheating,forgery,criminal and conspiracy.

The EOW has filed a 3,000-page chargesheet with 40 pages listing the main charges,based on statements provided by 275 victims against Aggarwal and documents seized during the raids.

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“These 275 victims have claimed that Aggarwal promised huge profits on their investments but later ran off with their money,” a senior police officer said.

Joint Commissioner of Police (Crime Branch),Amulya Patnaik confirmed the filing of the chargesheet. “Further investigations in this case are on,” he added.

During investigations,EOW officials found that Aggarwal had invested some of the illegally procured money in the commodity market (by playing satta in the jewellery market) but he lost the entire sum.

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He also reportedly invested money in four properties in Noida and Delhi,and his office in Satya Enclave in Outer Delhi,from where he ran ‘Stop Loss Commodity Ltd’ for the last two and a half years. Aggarwal and his wife were arrested on June 12 while other two were arrested few days later.

Those duped by Aggarwal include residents of Satya Enclave,Aman Vihar,Prem Nagar,Mundka,Uttam Nagar and other areas of West and Outer Delhi. Aggarwal had opened 15 banks accounts to store the money.

Aggarwal used to run a provisional store in Uttam Nagar earlier.

First published on: 09-09-2009 at 04:22:23 am
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