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PRESS RELEASE
ECONOMIC OFFENCES WING
CRIME BRANCH
DELHI POLICE
11.7.2009
DIRECTORS OF B.K. JEWELLERS ARRESTED FOR DEFRAUDING INVESTORS IN MULTILVEL MARKETING RACKET
Economic Offences Wing, Crime Branch, Delhi Police has arrested two directors running an agency in the name and style of M/s B.K. Jewellers House Marketing Pvt. Ltd., at WZ-16, Sant Nagar, Tilak Nagar, namely Chetan Malik, age 25 years s/o Shri Balkishan Malik and Rajesh Malik, age 40 years s/o Shri Rajinder Lal Malik, both r/o 42, Vaishali, Pitampura, Delhi.
More than 150 complaints alleging that the company had floated many lucrative schemes of investments. In the scheme, if a persons joins as a investor either by paying a sum of Rs. 3533/- or Rs. 13444/- ( silver investor) or Rs. 68216(gold investor) or Rs. 3, 36, 738/-(platinum investor), give huge returns the company would give huge returns not only on the investment made but also commissions were offered for bringing in more investors. The alleged company conducted seminars/conference at their office premises and other places also for attracting the investors to invest money in their schemes. For the investment of Rs. 13444/- the investor was promised returns varying from 26000/- to 26, 00, 000/- in a period of 12 months, depending upon the growth of the company. It has come to the notice during investigation that the accused had made large number of dummy investors to siphon out money from the company for their illegal gains.
The directors of the company were evading their arrest for last two months by shifting their locations continuously. Raids were being conducted at their hideouts as per investigation. The accused could not sustain the persistent pressure and raids by the police and they surrendered to the police on 10.7.09. As the number of complainants likely to go up, therefore, auditors have been appointed to assess the exact dimension of the scam.
The accused persons are being produced before Shri R.K..Tripathi, ACMM, Tis Hazari Court today. Further investigations in the case are going on.
ECONOMIC OFFENCES WING
CRIME BRANCH
DELHI POLICE
11.7.2009
DIRECTORS OF B.K. JEWELLERS ARRESTED FOR DEFRAUDING INVESTORS IN MULTILVEL MARKETING RACKET
Economic Offences Wing, Crime Branch, Delhi Police has arrested two directors running an agency in the name and style of M/s B.K. Jewellers House Marketing Pvt. Ltd., at WZ-16, Sant Nagar, Tilak Nagar, namely Chetan Malik, age 25 years s/o Shri Balkishan Malik and Rajesh Malik, age 40 years s/o Shri Rajinder Lal Malik, both r/o 42, Vaishali, Pitampura, Delhi.
More than 150 complaints alleging that the company had floated many lucrative schemes of investments. In the scheme, if a persons joins as a investor either by paying a sum of Rs. 3533/- or Rs. 13444/- ( silver investor) or Rs. 68216(gold investor) or Rs. 3, 36, 738/-(platinum investor), give huge returns the company would give huge returns not only on the investment made but also commissions were offered for bringing in more investors. The alleged company conducted seminars/conference at their office premises and other places also for attracting the investors to invest money in their schemes. For the investment of Rs. 13444/- the investor was promised returns varying from 26000/- to 26, 00, 000/- in a period of 12 months, depending upon the growth of the company. It has come to the notice during investigation that the accused had made large number of dummy investors to siphon out money from the company for their illegal gains.
The directors of the company were evading their arrest for last two months by shifting their locations continuously. Raids were being conducted at their hideouts as per investigation. The accused could not sustain the persistent pressure and raids by the police and they surrendered to the police on 10.7.09. As the number of complainants likely to go up, therefore, auditors have been appointed to assess the exact dimension of the scam.
The accused persons are being produced before Shri R.K..Tripathi, ACMM, Tis Hazari Court today. Further investigations in the case are going on.
I am yet to get any such returns, i joined the scheme as silver distributor
Please advice me as to what action is possible to atleast recover the amount of Rs.13444.00
Please advice me as to what action is possible to atleast recover the amount of Rs.13444.00
plz return my money
bk jewellery case compalint fraud cheat against chetan malik, bk malik, sahdab ansari, vinay kumar delhi
Charges framed against six for cheating of over Rs 100 cr
PTI
New Delhi, Jul 13 (PTI) A Delhi court today framed charges of cheating and criminal breach of trust against two directors and four promoters of M/s B K Jewellery and Marketing Pvt Ltd in connection with cheating of over 70, 000 people to more than Rs 100 crore. The framing of charges paves the way for the start of trial against the accused. Additional Chief Metropolitan Magistrate R K Tripathi found directors Chetan Mallik and Rajesh Mallik and four promoters Shadab Ansari, Sajid Jabbar, Anand Shankar prima facie guilty and charged them with the offences of cheating, criminal breach of trust and criminal conspiracy. All the six accused, who are in judicial custody, pleaded not guilty to the charges and expressed their willingness to contest them during the trial. The court also charged the accused with various provisions of the Prize Chit Fund and Money Circulation Scheme Act. Additional Public Prosecutor Naveen Kumar sought trial of the six accused under the IPC and the Prize Chit Fund and Money Circulation Scheme Act for allegedly cheating 70, 890 people for over Rs 100 crore. He said the accused, being directors and promoters of B K Jewellery and Marketing Private Ltd, induced people to deposit Rs 13, 444 for one year and get Rs one lakh. Kumar claimed 516 people had lodged their complaints with the Economic Offence Wing (EOW) of the Delhi Police since 2009 as they failed to pay them back despite their promise. "The accused indulged in cheating, forgery and criminal breach of trust by causing losses to the exchequer to the tune of Rs one crore by not depositing value-added tax (VAT) and Rs 10 crore as TDS, " he submitted. The counsel for the accused, on the other hand, claimed the money from general public was invited purely as contract between them and the victims. It was not a money circulation scheme but a multi-level marketing scheme, they claimed, adding the Indian Penal Code is not attracted against the accused if they were to be charged under the special Act of the Prize Chit Fund and Money Circulation Scheme Act. The court, however, did not find sufficient evidence to frame charges against the accused for the offences of forgery and using fake documents as genuine.
Charges framed against six for cheating of over Rs 100 cr
PTI
New Delhi, Jul 13 (PTI) A Delhi court today framed charges of cheating and criminal breach of trust against two directors and four promoters of M/s B K Jewellery and Marketing Pvt Ltd in connection with cheating of over 70, 000 people to more than Rs 100 crore. The framing of charges paves the way for the start of trial against the accused. Additional Chief Metropolitan Magistrate R K Tripathi found directors Chetan Mallik and Rajesh Mallik and four promoters Shadab Ansari, Sajid Jabbar, Anand Shankar prima facie guilty and charged them with the offences of cheating, criminal breach of trust and criminal conspiracy. All the six accused, who are in judicial custody, pleaded not guilty to the charges and expressed their willingness to contest them during the trial. The court also charged the accused with various provisions of the Prize Chit Fund and Money Circulation Scheme Act. Additional Public Prosecutor Naveen Kumar sought trial of the six accused under the IPC and the Prize Chit Fund and Money Circulation Scheme Act for allegedly cheating 70, 890 people for over Rs 100 crore. He said the accused, being directors and promoters of B K Jewellery and Marketing Private Ltd, induced people to deposit Rs 13, 444 for one year and get Rs one lakh. Kumar claimed 516 people had lodged their complaints with the Economic Offence Wing (EOW) of the Delhi Police since 2009 as they failed to pay them back despite their promise. "The accused indulged in cheating, forgery and criminal breach of trust by causing losses to the exchequer to the tune of Rs one crore by not depositing value-added tax (VAT) and Rs 10 crore as TDS, " he submitted. The counsel for the accused, on the other hand, claimed the money from general public was invited purely as contract between them and the victims. It was not a money circulation scheme but a multi-level marketing scheme, they claimed, adding the Indian Penal Code is not attracted against the accused if they were to be charged under the special Act of the Prize Chit Fund and Money Circulation Scheme Act. The court, however, did not find sufficient evidence to frame charges against the accused for the offences of forgery and using fake documents as genuine.
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