Texecutions

Main Menu

  • Home
  • American politician
  • Businessman
  • U.s. president
  • Us governor
  • United states stock market

Texecutions

Header Banner

Texecutions

  • Home
  • American politician
  • Businessman
  • U.s. president
  • Us governor
  • United states stock market
Businessman
Home›Businessman›Affinity Salon owner detained over ‘Rs 7.5 core cheating businessman’

Affinity Salon owner detained over ‘Rs 7.5 core cheating businessman’

By Daniel D. Burke
April 7, 2022
0
0

The Economic Crimes Wing of the Delhi Police has arrested the owner of Affinity Salon Pvt Ltd for allegedly defrauding a businessman of Rs 7.5 crore on the pretext of giving him a high return on his investment.

Police said the accused, Vinay Vishal Sharma (52), was arrested in Block M, GK-I, in connection with a case filed in 2019. A complaint was received from a man in businessman named Anurag Chadha who alleged that Sharma approached him to invest money in the business.

MI Haider, DCP (EOW), said: “We have learned that Sharma presented Affinity Salon as an investable business and assured the complainant of high returns on his investment. The defendant also gave possession of a residential property in Sushant Lok Phase-1 to the plaintiff as additional security. As such, Chadha transferred Rs 7.5 crore to the alleged company.

During the investigation, the police discovered that at the time of the signing of the share subscription agreement in 2016, the Sushant Lok property which had been pledged as collateral had already been mortgaged to HDFC bank because a loan had been taken out for the purchase of the same property. .

“There is a clear misrepresentation and concealment of facts by the defendant – Vishal Sharma…Affinity Beauty Salon Pvt. Ltd,” the DCP added.

A case was registered in 2019 under several sections of the Indian Penal Code which deal with cheating, criminal breach of trust and criminal association.

DCP Haider said Sharma joined the investigation at the initial stage but later escaped. “We found out that Sharma has been in the beauty salon business for a long time. To expand the business, he took out loans from several private individuals. He asked people to mortgage their property with banks and used to take this money for his expansion. He would also sell shares of his company and embezzle the money sent by the plaintiff,” the DCP added.

Related posts:

  1. Police save businessman kidnapped by loan shark
  2. Egyptian businessman Hassan Rateb arrested for funding illegal digs
  3. Rakhmat Karimov, a businessman from Uzbekistan achieving what he dreamed of in Dubai.
  4. Five men accused of conspiring to steal “huge” sum of money from elderly businessman using “bogus police”

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • March 2021

Categories

  • American politician
  • Businessman
  • U.s. president
  • United states stock market
  • Us governor

Recent Posts

  • On his 92nd birthday, Harvey Milk continues to inspire
  • Credit inclusiveness must go beyond buying now and paying later to meet the needs of those in need
  • Arizona Governor Hopeful Lake Seeks Expanded School Choice | Arizona News
  • Court issues N200m judgment against Nigerian military for killing Imo businessman
  • Meet the first American president who publicly embraced golf
  • Terms and Conditions
  • Privacy Policy