Palamu Police nabs man for Rs 7.88 cr deposit fraud

| | DALTONGANJ | in Ranchi

Palamu police have arrested and jailed a fraudster Surjeet Lal Paswan who has cheated 100 depositors so far of their Rs 7.88 crores. He was booked under section 419,420,467,468,471 and 120(b) of IPC. He was remanded in judicial custody on Wednesday July 4.

Stating this Indrajeet Mahatha SP Palamu said this Paswan ran a company called Infra Web Trading Pvt Ltd and established his office in a high profile area Jail Hata in Daltonganj. His company was operating since 2013.

The SP said it was in May 2018 that one depositor Akhileshwar Mehta sought police help to get back his money and this Mehta lodged the FIR which the Daltonganj police registered on May 28 the day Mehta gave his complaint in writing and police drew this FIR against three this Paswan, one woman Dayavati Kumari and Arun Kumar.

The SP said Paswan remained un caught from May 28 till July 3 when police got him finally and who has confessed to his crime.

He promised people 8 to 10 per cent interest per month, not per annum. Retired teachers with their fatty PF and gratuity amount became more victims of Paswan added SP. A journalist Parween too deposited 18 lakh with Paswan. A lady LIC policy agent deposited Rs 59 lakhs with Paswan’s company.

DSP Premnath delved deep into this case and did a marathon work when he took down the statement of as many as 100 depositors.

The SP opined that this number of depositors would further shoot up and the duped amount right now Rs 7.88 crore would also spiral up.

Police have seized Paswan’s four passports, wrote to banks to freeze 10 bank accounts of Paswan besides seizing nine ATM cards and credit cards.  Paswan comes from Hazaribagh district but was operative in Palamu.  Police are locating and identifying his assets to freeze it under the order of the court. Meanwhile police have written to Hazaribagh based Registrar to stop any sale or purchase of any landed property by Paswan.

Paswan’s two other fellows Arun Kumar and Dayavati Kumari are at large.

The SP terming this case as the biggest ever economic fraud said there will come tumbling more skeletons from the fraudster’s cup boards once the investigation in this case further goes deep and intensive.