20% return promise proves costly, several duped of Rs 4.41cr

Lucknow: An investment company allegedly cheated several individuals, including a retired chief medical officer and an additional excise commissioner, of Rs 4.41 crore by promising a 20% return on share trading investments within 120 days. Retired CMO Anoop Kumar Srivastava said he was introduced to Kunal Mehta, director of an investment company, by an acquaintance named Umesh in Dec 2021. Mehta promised a 20% profit within 120 days if Srivastava invested in the company's shares. Srivastava got convinced and invested Rs 1.38 crore. Srivastava's family members, including his wife Archana, son Achint, nephew Sandeep Kumar and relative Rajiv, also invested Rs 1.87 crore. When Srivastava requested a refund for his daughter's wedding in 2024, the accused refused, duping them of around Rs 3.25 crore.Additional excise commissioner Rajendra Prakash Saxena, a resident of Eldeco Green, Gomtinagar, was also duped by the same company, which first paid interest on the invested money to gain his trust. Saxena said a few months ago, he met Mehta, who promised a 20 per cent profit by showing fake documents. Falling into his trap, Saxena invested Rs 25 lakh in his name and Rs 10 lakh in his wife's name last year.To win his trust, Saxena was given Rs 76,000 at the rate of 20 per cent quarterly. Encouraged, Saxena invested Rs 12.50 lakh in the name of his son Vinayak as well. Meanwhile, Mehta told him about an 18 per cent profit in 120 days on investment in another company. On his advice, Saxena invested another Rs 30 lakh. Saxena demanded interest when it wasn't paid on time, but the accused employed delaying tactics. As a result, Saxena lost a total of Rs 77.50 lakh.Surendra Kumar Agarwal, a resident of Kesaripur in Daliganj, alleged he invested Rs 10 lakh in the company in Oct 2024. Mehta gave a fake agreement of 20 per cent profit in 120 days, but now he is not giving the money back. Similarly, Mayank Shukla, a resident of Rohit Grand Society in Sector-F of Jankipuram Extension, alleged the company defrauded him of Rs 15.91 lakh.Himanshi Mishra, a resident of Vishnupuri, Aliganj, who works in the same company, said she started working as HR manager and assistant director in 2024. After four months, she was promoted as associate director. On the advice of Mehta, she invested 12 lakh, but was duped. Vibhuti Khand police sation inspector Sunil Kumar Singh said a case has been registered against Mehta and co-accused Sameer Ahmed and Abhishek Bajpai.