Man held for luring over 60 people into Ponzi scheme, duping them of Rs 80 lakh

According to police, his scams came under the radar after a complaint was filed by one of the victims, Manmeet Singh, in 2023, where he claimed he had invested in a firm called ‘Apex International and Creative Holiday’. “The victim claimed as many as 65 people had invested in the scheme,” Additional CP (EOW) Amrutha Guguloth said.

Once the scheme hit the maturity period, police said, Inderjeet didn’t return the money — around Rs 80 lakh — to investors and absconded.

“The accused issued fraudulent receipts, signed in his own handwriting, as proof of payment to win the trust of the victims who further encouraged their relatives to invest in the scheme. In this way, he usurped funds obtained from innocent victims,” Guguloth said.

On February 15, the EOW team arrested Inderjeet from Paharganj. “His police custody remand has been obtained. Further investigation regarding misappropriation of funds is underway,” said the Additional CP.

Inderjeet, 55, is a resident of Mahender Park in Jahangirpuri. He came to Delhi in 1986 from Punjab.

A Bachelor of Arts holder from Delhi University, Singh initially went into the taxi business, working as a driver in Delhi, before starting a tour and travels’ venture in Paharganj. When it failed to take off, Inderjeet started running bogus schemes, police said. Singh was also named in a rape case in Paharganj in 2021, police said.