Tea vendor scammed Rs 100 crore, defrauded 400 people by pretending to be in the stock market

A shocking case has come to light from Raipur, the capital of Chhattisgarh, where a tea vendor cheated Rs 100 crore. He has duped people of this money by luring them to invest in the stock market. The incident took place in Temple Hasaud area of ​​Raipur.

After the matter came to light, the police arrested the mastermind of the fraud, Bhuvneshwar Sahu and his associate Manohar Sahu. Actually Bhuvneshwar used to run a tea stall. He described himself as a big player in the stock market and told people that if they invest in stock trading, they will get double the profit. In the beginning he gave small profits to the people, due to which people started trusting him.

More than 400 people became victims of the hoax

After this he got people to invest lakhs of rupees. More than 400 people fell victim to his trap and lost their hard-earned money. When Kuber Verma, a resident of Mandir Hasaud, complained about the matter to the police, the entire matter came to light.

The complainant told the police that Bhuvaneshwar had promised him profits in the stock market. By trusting him, he deposited seven lakh rupees in the account of the accused. A few days later, when he called Bhuvaneshwar to inquire about the money, he found his number switched off. When he could not find it even after searching, Kuber realized that he had become a victim of fraud.

Police arrested

The police started investigating the case as soon as they received the complaint. During investigation, the police found that Bhuvaneshwar Sahu, along with his associate Manohar Sahu, had recruited around 400 people in this manner. Police also found that a missing report was registered against Bhuvaneshwar in another police station. When the police traced her location, she was found in Dhamtari.

After this, the police team reached the spot and arrested him. The police have also put the bank accounts of the accused and his partner on hold. Also, the process of confiscating the properties purchased fraudulently has been started. It is being told that both the accused had invested a large part of the fraudulently collected amount in a demat account, but it was lost.

Search for other accused also

When interrogated by the police, accused Bhuvneshwar also told that he and his associates had cheated more than 400 people in the name of investing in the stock market. Through this fraud he has collected assets worth around Rs 100 crore. The police are now also searching for other absconding accused.