Panchkula Police Arrest Absconding Accused in Rs 20 Lakh Gold Investment FraudTimes News NetworkPanchkula: The Panchkula police’s economic offences wing has arrested an absconding accused from Delhi in connection with an alleged Rs 20 lakh cheating case linked to fake gold investment promises. The accused, identified as Mandeep Makkad, a resident of Sector 10, Panchkula, has been arrested after a prolonged search and technical investigation.According to the police, the complainant in the case had alleged that he had come in contact with Makkad, who lured him into investing money by promising high returns through the purchase of gold at discounted rates. The accused allegedly claimed that premium quality gold could be arranged through another person, identified as Pankaj Rana, who was said to be associated with a reputed jewellery business.Believing the claims, the complainant gave nearly Rs 20 lakh to the accused. However, neither the promised gold was delivered nor the money was returned. The police said the accused and his associate allegedly kept delaying the matter whenever repayment or delivery of gold was sought. The complainant later approached senior police officials after suspecting fraud.During investigation led by Inspector Sukhbir Singh and Sub-Inspector Harender of the economic offences wing, the police found that co-accused Pankaj Rana had already passed away and the same was verified through official records. ACP Vikram Nehra said Makkad was arrested on May 19 from Delhi and later sent to judicial custody. The cops added that cases related to cheating and cheque bounce were already pending against the accused in Panchkula.The police have appealed to the citizens to thoroughly verify investment schemes and offers involving precious metals before making any payments.
