Nation Crime 17 Nov 2022 Conman from Hyderaba ...

Conman from Hyderabad pulls off Rs. 7 cr. investment heist

DECCAN CHRONICLE. | DC CORRESPONDENT
Published Nov 18, 2022, 12:00 am IST
Updated Nov 18, 2022, 12:00 am IST
The funds from the current account operated by the firm in a private bank at Habsiguda, were diverted to individual accounts in small sums. (Representational Image)
 The funds from the current account operated by the firm in a private bank at Habsiguda, were diverted to individual accounts in small sums. (Representational Image)

HYDERABAD: Mukti Raj, whose Multi Jet Trading Private Limited pulled off a multi-crore investment fraud, had diverted over Rs. 7.25 crore from the firm's accounts to individual accounts, even before the victims could realise that they were duped. Police suspect that he could be acting on the instructions of his handlers, who are most likely operating from north Indian states.

Sleuths from the Hyderabad Central Crime Station (CCS), who are investigating the case, found that a couple of days before the victims lodged a police complaint, the funds from the current account operated by the firm in a private bank at Habsiguda, were diverted to individual accounts in small sums.

Police suspect that getting a whiff of the victims’ planning to approach police, Raj may have taken this step. While it is suspected that he fled to Mumbai, officials claimed that prima facie findings point that he could just be an employee of handlers from other states.

Raj has been involved in at least three cheating cases in the past. He floated the firm in June and lured people by offering handsome dividends. Starting with real estate, he shifted to trading in gold, mining and gas.  As he paid regular returns in the initial days, more people invested with him, only to realise much later that they were taken for a ride.

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