The Uttar Pradesh police, on Saturday, arrested a man for allegedly duping over 600 people of around Rs 60 crore on the promise of a 60 per cent return on their investments.
The Special Task Force of the UP police said it arrested the racket’s mastermind, Hari Om Yadav, from Chandpur village in Sultanpur Road here under Gosaiganj police station at around 5 am.
The police also confiscated three mobile phones, five cheque books, one passbook, an Aadhaar card, a laptop and Rs 700 cash from the accused, the STF said in a statement.
The STF said that it made the arrest following a probe into complaints by several people that they have been duped of their money on the promise of 60 per cent returns on their investments. During the probe, it transpired that the racket was being run through a multi-level marketing mechanism, with Hari Om Yadav, doubling as CMDs of Alaska Real Estate Pvt Ltd, Alaska Commodities and Alaska Enterprises and duping around 600 persons for Rs 60 crore.
A case was registered in this connection at Gosaiganj police station under various sections of the IPC, the statement said.