Health ministry official duped of Rs 31 lakh in ‘currency trading’ racket in Delhi’s Lodhi Colony

New Delhi, Aug 21 (PTI) A senior health ministry official in south Delhi’s Lodhi Colony has allegedly been duped of Rs 31 lakh by a self-styled currency market investor who promised to double the money within a year, police said on Thursday.

The complainant alleged that the accused, identified as Praful Bhat, approached him in July 2023 with an offer to invest Rs 25 lakh in a “high-return” currency trading venture, they said.

Trusting Bhat, whom he knew from earlier, the complainant and his family transferred funds from their personal accounts, including contributions from his wife and widowed mother, a senior police officer said.

“The total amount rose to Rs 31 lakh after Bhat claimed a cash crunch and allegedly demanded an additional Rs 6 lakh, assuring a bonus of Rs 1 lakh in return. The complainant has alleged that the money was diverted to multiple accounts unrelated to the stated investment, indicating dishonest intention from the outset,” the officer added.

When the victim pressed for repayment, Bhat threatened him and his family with dire consequences, police said.

“The complaint also hints at a wider fraud, naming another purported victim and suggesting that Bhat and his associates may have cheated multiple people. Funds were allegedly routed to accomplices and partners, raising suspicions of criminal breach of trust, misappropriation and conspiracy,” the officer said.

An FIR in this regard was registered at Lodhi Colony police station on August 11, and efforts are on to locate Bhat, the officer added. PTI SSJ SSJ AMJ AMJ