Latest news with #MohitWadhwa
New Indian Express
15-05-2025
- New Indian Express
Man dupes spiritual guide followers of Rs 9 crore, arrested
NEW DELHI: A 44-year-old man, Mohit Wadhwa, was arrested for allegedly duping devotees of a spiritual guide by promising high returns on investment, police said on Wednesday. Wadhwa, a resident of Rajouri Garden, was arrested following complaints from Gurpreet Kaur Rai and three other families, totaling 14 victims. Wadhwa and his associates, all followers of a spiritual guide, convinced the victims to invest in various schemes in Dubai, claiming significant returns. Between September 2017 and September 2020, the victims collectively invested Rs 9 crore in multiple tranches. However, after the investments, they neither received returns nor any documents regarding their investments. During the probe, bank account statements of the victims and Wadhwa corroborated part of the transactions. Victims confirmed that they had been cheated by Wadhwa and his associates. DCP (EOW) Amit Verma said, 'Wadhwa started organising Satsangs at his residence, where he gained the confidence of many devotees by making false promises.' Verma further revealed that some of the money was invested in cryptocurrency, while the rest was used for personal luxury. Wadhwa was arrested on May 9.
Hindustan Times
15-05-2025
- Hindustan Times
Delhi EOW arrests 44-yr-old man for investment fraud by gaining trust through religious meets
NEW DELHI The economic offences wing (EOW) of the Delhi Police arrested a 44-year-old man for allegedly duping members of a religious sect of ₹9 crore between 2017 and 2020, under the pretext of investing in high-return schemes. The accused, Mohit Wadhwa alias Manu, a resident of Rajouri Garden, was arrested from Subash Nagar on May 9, police said. Police said an FIR was lodged under sections 406, 420, and 120-B of the Indian Penal Code on July 27, 2021, based on a complaint from a victim, Gurpreet Kaur Rai, and three other families that were allegedly duped by Wadhwa. 'The victims regularly attended 'satsang' at Bade Mandir in Chhattarpur; they alleged that Wadhwa and his associates lured them into investing in dubious schemes, supposedly based in Dubai. Promising lucrative returns, the accused collected over ₹9 crore from the victims between September 2017 and September 2020. However, no return was ever paid, and no investment document was shared with the victims either,' deputy commissioner of police (EOW) Amit Verma said. 'Wadhwa studied up to Class 12 and is married. To amass wealth quickly, he began organising religious gatherings at his residence, drawing in unsuspecting followers. He gained their trust and used their faith to defraud them. During interrogation, Wadhwa admitted to diverting a portion of the collected funds into cryptocurrency and spending the rest on a lavish lifestyle,' the DCP said. Verma said that Wadhwa's financial transactions corroborated the victims' claims and they are currently probing the role of Wadhwa's associates. Wadhwa is a repeat offender and was previously booked by the EOW in an investment fraud, the DCP said.
India Gazette
14-05-2025
- India Gazette
Delhi Police arrests man for Rs 9 crore fraud targeting religious devotees
New Delhi [India], May 14 (ANI): The Economic Offences Wing (EOW) of Delhi Police has arrested a man for allegedly defrauding devotees of a spiritual congregation by luring them into investing in fake Dubai-based schemes with the promise of high returns. The accused, identified as Mohit Wadhwa alias Manu Wadhwa (44), a resident of Rajouri Garden, was arrested on May 9 from Subhash Nagar. Police have registered a case against the accused under IPC Sections 406, 420, and 120-B. Amit Verma, Deputy Commissioner of Police of EOW, stated that the arrest followed a complaint filed by Gurpreet Kaur Rai. Further complaints from four different families, totalling 14 victims, were received against Wadhwa and his associates. The victims alleged that Wadhwa, who was known among followers of a spiritual leader referred to as Guru Ji and often attended satsangs at Bade Mandir in Chhatarpur, used his association with the religious group to gain their trust. He and his associates promised lucrative returns on investments in alleged business ventures in Dubai. Between September 2017 and September 2020, they collected around Rs 9 crore from the victims in multiple instalments. However, the accused neither returned the money nor produced any investment documents. The investigation, which included examination of victims and scrutiny of bank transactions, confirmed partial monetary trails linking Wadhwa to the fraudulent activities. He reportedly invested part of the funds in cryptocurrency, while the rest was used for personal luxury and expenses. Police also revealed that Wadhwa is a 12th-pass individual with a history of similar offences. Prior to this case, he had been arrested for duping investors using the same modus operandi. EOW officials stated that the investigation is ongoing, and efforts are underway to trace his associates and recover the funds. (ANI)
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Business Standard
14-05-2025
- Business Standard
Man held for duping 14 devotees of ₹9 crore through fake Dubai schemes
The Economic Offences Wing (EOW) of the Delhi Police has arrested a 44-year-old man for allegedly defrauding 14 followers of a spiritual leader of more than ₹9 crore through bogus investment schemes that promised high returns. The accused, identified as Mohit Wadhwa alias Manu, was arrested on May 9 from the Subhash Nagar area, according to police officials. Wadhwa and his associates — devotees of a spiritual figure known as Guruji — attended satsangs (spiritual gatherings) held at Bade Mandir in Chhatarpur. It was during these congregations that they allegedly earned the confidence of fellow devotees. 'Leveraging the trust built within the religious community, they allegedly lured victims to invest in various schemes based in Dubai. The accused promised extraordinarily high returns and collected around Rs 9 crore in multiple installments between September 2017 and September 2020,' news agency PTI quoted Deputy Commissioner of Police (EOW) Amit Verma as saying. Complaint sparks investigation The case came to light following a complaint lodged by one Gurpreet Kaur Rai. As the probe progressed, three more families came forward with similar allegations, raising the number of known victims to 14, the officer said. Complainants reported that the accused consistently made verbal assurances but failed to return their investments or furnish any documents to support the claimed financial schemes. 'The evidence gathered so far confirms the allegations against Mohit Wadhwa and efforts are on to trace his associates,' Verma said. Preliminary findings also indicate that part of the funds was diverted into cryptocurrency investments, while a significant portion was allegedly used to support a lavish lifestyle. Repeat offender with a history of deceit Police said Wadhwa previously hosted spiritual gatherings at his home that drew large numbers of Guruji's followers. 'He exploited their faith and trust for personal gain,' the officer said, adding that Wadhwa had earlier been arrested in a similar cheating case involving investors. A case has been registered under sections 406 (criminal breach of trust), 420 (cheating), and 120-B (criminal conspiracy) of the Indian Penal Code at the EOW police station. (With PTI inputs)
Hindustan Times
14-05-2025
- Hindustan Times
Delhi man dupes devotees of a godman, collects ₹9 crore with fake promises
The Delhi police's Economic Offences Wing (EOW) arrested a 44-year-old man for allegedly duping 14 followers of a spiritual leader of over ₹9 crore by luring them into fake investment schemes, reported PTI. The accused was arrested on May 9 from Subhash Nagar. Mohit Wadhwa alias Manu and his associates, attended the satsangs of a spiritual leader known as 'Guruji' gained the trust of fellow devotees at these events and promised them high returns from investment schemes. Also Read: Delhi: 4 held in ₹16.7cr fake trading app scam; bank staff aided in crime Wadhwa and his associates had organised satsangs at his home, where large crowds of devotees would come as well. After he collected money from them, he used the funds to bankroll his lavish lifestyle and invested the rest in cryptocurrency. The 44-year-old man was a Class 12 pass-out and was also married. Police officials stated that he had been previously arrested in a case involving investors. Also Read: Two cheat MeitY of ₹3 crore using SAMRIDH startup scheme; arrested by Delhi Police 'Leveraging the trust built within the religious community, they allegedly lured victims to invest in various schemes based in Dubai. The accused promised extraordinarily high returns and collected around ₹9 crore in multiple installments between September 2017 and September 2020,' Deputy Commissioner of Police (EOW) Amit Verma said. 'He exploited their faith and trust for personal gain,' he added. One victim of the scam, Gurpreet Kaur Rai filed a complaint after which three more families came forward. The complainants alleged that despite repeated assurances, the accused neither returned the money nor provided any documentation regarding the supposed investments. Also Read: Crime Branch busts call centre in Delhi scamming seniors, 3 held DCP Verma stated that during the police probe a partial money trail was discovered after examining bank transactions between the accused and the victims which matched the statements they gave to the authorities. 'The evidence gathered so far confirms the allegations against Mohit Wadhwa and efforts are on to trace his associates,' the DCP said. A case has been registered against Wadhwa under Indian Penal Code sections 406 (criminal breach of trust), 420 (cheating), and 120-B (criminal conspiracy) at the EOW police station.
