How fake meat export deal cost Delhi NRI more than $81,000, and the suspect vanished without a trace
A Delhi businessman has been allegedly defrauded of Rs 1.3 crore by an individual posing as a successful meat exporter. The suspect, after gaining trust through fabricated documents, convinced the victim to invest heavily, promising high returns. The suspect later disappeared, prompting a police investigation into the elaborate scheme. The crime branch is currently investigating the case.
Tired of too many ads?
Remove Ads
How it began
Investment and false promises
Suspect goes missing
Tired of too many ads?
Remove Ads
Police action
A businessman from East Delhi has alleged that he was cheated out of Rs 1.3 crore by a man who pretended to be a successful meat exporter. The Delhi Police crime branch has now launched an investigation into the matter.The complainant, a Non-Resident Indian ( NRI ) currently living in east Delhi, told police he met the suspect in June 2023 through a mutual friend. The man claimed to be running a profitable meat export business and showed fake documents to support his claims. Convinced by the fake paperwork, the businessman agreed to support the venture.A few weeks later, the suspect convinced the complainant to invest money, promising high returns by January 2025. Trusting him, the businessman invested large sums, including his father's life savings. The payments, totalling Rs 67.7 lakh, were made via cheques to an account belonging to someone introduced as the suspect's business manager.In October and November 2024, the suspect claimed he needed an additional $80,000 (around Rs 69.3 lakh) to handle a shipment issue in Dubai. This money was arranged through the help of a friend in the UAE and handed over to one of the suspect's contacts there.In January 2025, a WhatsApp chat showed the suspect admitting to owing money. But when the complainant began asking for repayment, the suspect avoided contact. He eventually switched off his phone, changed his number, and even vacated the place where he had been living with the complainant.When the businessman contacted the so-called manager, he was shocked to learn that the person was not part of any business partnership. He revealed that the suspect had asked him to transfer all the funds to his personal account, and the money was never used for any export business.Based on the complaint and initial findings, police found enough evidence to file a formal case of cheating. A detailed investigation is now underway.Inputs from agencies
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
23 minutes ago
- Business Standard
Zaggle buys two companies in a single day, pumps Rs. 150 crore
PRNewswire Mumbai (Maharashtra) [India], June 9: Zaggle Prepaid Ocean Services Limited, India's leading spend management company, is set to acquire a 100% stake in Dice and GreenEdge Enterprises for Rs150 crore. These consecutive acquisitions will enhance Zaggle's presence in the Indian market, significantly broaden its portfolio of advanced spend management solutions and further strengthen its offerings in the loyalty, rewards and travel segments. The company is set to acquire a 100% stake in Dice and GreenEdge. The company has made four acquisitions in the last four months, infusing about Rs. 215 crore. With this acquisition, Zaggle has completed four strategic takeovers in the past four months, totalling nearly Rs215 crore. These moves align with the company's ambition to become a $1 billion revenue enterprise within the next five to seven years. Zaggle is strategically deploying the Rs595 crore raised through its Qualified Institutional Placement (QIP) to acquire companies that are product-accretive, geography-accretive, or EBITDA-accretive, while ensuring sustained positive returns on equity and investments. Incorporated in 2018, Dice is a Pune-based AI-driven enterprise spend management platform, specializing in Spending as a Service. Its suite of solutions encompasses travel and expense management, accounts payable management and procurement management solutions. Its unified platform offers seamless self-booking, approvals and reconciliations with built-in policy controls, streamlining the entire spend cycle for businesses. The company has demonstrated consistent growth over the last two years, clocking a turnover of over Rs. 6 crores in FY24. The acquisition of Dice will significantly enhance Zaggle's existing product portfolio, transforming it into a more comprehensive and integrated suite of spend management solutions. Through this acquisition, Zaggle will gain access to Dice's established customer base, which includes prominent enterprises such as Tata AIA, Bajaj Electricals and DTDC, further reinforcing its market presence. The combined capabilities will not only deepen Zaggle's reach within the Indian market but also create new opportunities to deliver its advanced solutions on a global scale. GreenEdge Enterprises, on the other hand, is a specialized solution provider for golf travel, unique experiences and access-based rewards. With its stronghold in India, the company achieved a turnover of Rs. 19.82 crores in FY24. This acquisition will enhance Zaggle's product offerings in the loyalty and rewards and travel segment, providing a substantial boost to its Propel offering. Zaggle had recently announced the acquisition of a 51% Controlling Stake in EffiaSoft and a 38.34% stake in Mobileware Technologies. The company had recently reported a consolidated profit after tax (PAT) of Rs. 87.4 crore for FY25, up from Rs. 44 crore in FY24. About Zaggle Founded in 2011, Zaggle (BSE: 543985) (NSE: ZAGGLE) is a leading player in spend management, offering a differentiated value proposition with a diversified user base. Operating within the business-to-business-to-customer (B2B2C) segment, Zaggle stands out as one of the few companies with a comprehensive range of financial technology products and services. Zaggle is one of India's top issuers of prepaid cards, collaborating with banking partners to drive its card offerings. The company also boasts a diverse portfolio of SaaS products and an extensive network of touchpoints. As of March 31, 2025, Zaggle has issued over 50 million prepaid cards, serves more than 3,400 corporate enterprise clients and supports a user base exceeding 3.2 million. With a robust corporate client base spanning various industries, including banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure and automobiles, Zaggle is well-positioned as a leading player in the spend management sector.
Hindustan Times
31 minutes ago
- Hindustan Times
Disturbing video shows Indian student in US pinned to floor, handcuffed before deportation
A disturbing video shows an Indian student handcuffed and pinned to the floor at USA's Newark Airport before he was deported. The video was shared on social media by Indian-American entrepreneur Kunal Jain, who said that the youngster was crying and was treated like a 'criminal' by authorities. Jain called on the Indian Embassy in the United States to look into the incident and help the student. 'I witnessed a young Indian student being deported from Newark Airport last night— handcuffed, crying, treated like a criminal,' he wrote on X. 'He came chasing dreams, not causing harm. As an NRI, I felt helpless and heartbroken. This is a human tragedy,' added Kunal Jain, President of HealthBots AI. According to Jain, the incident took place at Newark Airport in New Jersey. Visuals shared by him show the Indian man pinned to the floor by authorities. One photograph shows a police officer wearing a cap that reads 'Port Authority Police'. The Port Authority Police Department (PAPD) is a transit law-enforcement agency serving New York and New Jersey. It is tasked with protecting the Port Authority's critical infrastructure, such as airports, bridges, tunnels, bus terminals, seaports, rail transit, and the World Trade Center complex. It is the largest transit‑related police force in the United States. In follow-up posts, the NRI said that the student in question appeared to be speaking Haryanavi. He said that there have been several similar cases of Indians being deported over the last few weeks. He attributed it to them being unable to explain the reason for their visit. 'These children get their visas and get on a flight in the morning. For some reason, they are unable to explain the reason for their visit to the immigration authorities and are sent back on the evening flight tied up like criminals. Every day 3-4 such cases are happening. There have been more such cases in the last few days,' Jain wrote.
New Indian Express
32 minutes ago
- New Indian Express
Lalithaa Jewellery files IPO papers with Sebi; seeks to raise Rs 1,700 crore
NEW DELHI: Jewellery chain Lalithaa Jewellery Mart has filed preliminary papers with markets regulator Sebi seeking its approval to raise Rs 1,700 crore through an Initial Public Offering (IPO). The Chennai-based company's proposed IPO is a combination of a fresh issue of shares worth Rs 1,200 crore and an offer-for-sale of equities valued at Rs 500 crore by M Kiran Kumar Jain, according to the Draft Red Herring Prospectus (DRHP). The issue includes a reservation for a subscription by eligible employees, and a discount is being offered to such employees. As per the draft papers filed on Friday, proceeds from the fresh issue to the tune of Rs 1,014.50 crore will be used for setting up new stores, and a portion would be utilised for general corporate purposes.
