Delhi Police busts pan-India CSR-fund fraud; Rs 69 lakh seized, 1 held

New Delhi, Sep 26 (PTI) The Delhi Police has busted a pan-India cheating racket that allegedly duped the chief operating officer of a central Delhi-based company of Rs 69 lakh on the pretext of high returns from a corporate social responsibility (CSR) fund investment, officials said on Friday.

One accused, identified as Jitender Pandey (32), a resident of Mumbai's Meera Road, was caught from Ahmedabad after sustained operations over 15 days, police said.

Pandey is also linked to other cases, including one in Mumbai where a doctor was cheated of Rs 3 crore. His role in the racket was to transport cash for the mastermind, Monish Badani, for which he received a share of Rs 8.7 lakh, officials said.

"The complainant, the chief operating officer of a Daryaganj-based company, reported that in February, he was lured by a group of men who promised funding for his company in return for an upfront service fee," Deputy Commissioner of Police (Central) Nidhin Valsan said.

The complainant's representatives allegedly delivered Rs 69 lakh in cash at a Karol Bagh location on February 25, after being assured of an immediate transfer of the investment funds through RTGS.

However, the accused later shared fake NEFT/RTGS transaction screenshots and absconded with the money, Valsan said. An FIR was registered on July 8 at the Cyber police station in Central district.

Following investigation and technical surveillance, Pandey was traced and caught from Ahmedabad on September 15. Cash amounting to Rs 43.2 lakh, a sports utility vehicle (SUV) and two high-end mobile phones were seized from him, police said.

During interrogation, Pandey disclosed that he was part of an organised racket, with his other associates based in Mumbai. "The group opened temporary offices in different cities, lured businessmen with promises of CSR-fund investments and duped them by sending fake RTGS confirmations," the DCP said.

After the fraud, they would shut down the offices and flee, police said, adding that efforts are on to trace the other accused, recover the remaining amount and dismantle the entire network. PTI SSJ RC