Jamshedpur crime: Swindler who duped Rs 2 Cr arrested in Birsanagar

Jamshedpur, June 6: Birsanagar police arrested Anand Rao, accused of duping Rs 2 crore from him in the money receipt of IIFL Securities Limited under different names. 

Police also recovered cash worth Rs 1 crore 49 lakhs.
The police of Sakchi, Govindpur and Bistupur police stations were also looking for the accused. 

Anand Rao is a resident of Birsanagar. An FIR for cheating was registered against him on the complaint of Ritesh Prakash, the security manager of IIFL company at Birsanagar police station. The accused is alleged to have taken a franchise of IIFL company in 2013. Later his franchise was cancelled in 2021.

Despite this, he was depositing money and cheating people. Following the complaint, he was arrested by the police. Senior Superintendent of Police M Tamil Vanan gave this information to the journalists on Monday.  Two FIRs have been registered against the accused in Sakchi, one each in Govindpur and Bistupur police stations. There is a case of cheating of about Rs 2- 2.5 crore.

It is to be known that IIFL Securities is one of the leading financial service providers in the stock industry which is a brokerage firm. The company is not only in India but in many countries including Dubai, America, and England. Investment in the company is engaged in Demat account, equity investment, mutual fund, fixed deposit, loan and other services. The company’s franchisee was taken by Anand Rao, a resident of Birsanagar, Jamshedpur since 2013. Through him, many clients had invested in mutual funds. The company had cancelled its franchise in 2021 after receiving some complaints. Despite this, he kept making documents in the name of the company and got the customers to invest and kept refusing to return the customers’ money on completion of the time. Even if interest was not paid, some customers complained about it in different police stations. Company officials were also informed. The company officer had given a complaint in Birsanagar police station.