The Economic Offences Wing (EOW) of Delhi Police has arrested Sanjay, a 36-year-old advocate, for allegedly orchestrating a Rs 100 crore investment fraud. He is accused of duping around 200 investors through a Ponzi-style scheme promising high returns from the stock market.
Sanjay, a resident of Geeta Colony, East Delhi, previously practised at Karkardooma Court and reportedly collaborated with co-accused advocate Deepak Thakur to launch the fraudulent operation. The scheme promised 8% fixed monthly returns, claiming proprietary algorithm-based trading strategies could generate over 20% profits. Initially, early investors were paid to build credibility, but the fraud collapsed as operators absconded with the funds.
According to ACP Amrutha Guguloth, at least 56 complaints have been filed, and the EOW traced a land purchase worth Rs 10 crore in Chhata, Mathura, allegedly using defrauded money. Steps are being taken to attach the property. Additional FIRs have been registered in Delhi, Haryana, and Uttarakhand, targeting Sanjay and his associates.
Sanjay’s wife has been named as a co-accused and remains absconding. Police noted that Sanjay had previously been incarcerated in Karnal Jail for a similar fraud. Sections of the Banning of Unregulated Deposit Schemes Act have been added to the case. Investigations continue to identify other beneficiaries and seize diverted funds.
