Lucknow : Sant Kabir Nagar police have issued a property attachment notice against Satya Prakash , an accused in an alleged Rs 30-crore investment fraud in which investors were duped on the promise of lucrative returns from the stock market.
During the investigation, police allegedly found that Satya Prakash, a resident of the Mahuli police station area, had purchased property worth approximately Rs 30 lakh using money obtained through the alleged fraud. Another accused, Vikrant, who is also a resident of the Mahuli police station area, is alleged to have amassed property worth approximately Rs 4 crore using the proceeds of the investment fraud. Five accused have been arrested so far in the case registered at Mahuli police station, while the investigation has identified Dhananjay Shukla, a resident of Kushinagar, as the alleged mastermind of the gang.
Proceedings for the attachment of his property are pending before the court.
Further action is being taken in accordance with the facts emerging during the probe,” said Abhay Nath Mishra, Circle Officer, Dhan Ghata. “The investigation is underway.
The case came to light after allegations emerged that investors had been cheated of approximately Rs 30 crore.
The accused allegedly collected money from investors by promising them substantial profits from stock market investments, according to the investigation.