Lucknow: The Economic Offences Wing (EOW) arrested Satyanarayan Pal, an agent of a private company, from Gajner area of Kanpur Dehat in connection with a 2017 investment fraud case. The company is accused of collecting around Rs 6.5 crore from the public by promising high returns and interest.According to investigators, the company’s CMD and directors promoted various investment schemes, allegedly promising attractive returns through their agents. Investors were made to deposit money with the company, against which allegedly forged bonds and receipts were issued.However, after the stipulated maturity period, investors allegedly neither received the promised returns or interest nor got their principal amounts back. Company officials subsequently shut their offices and allegedly went absconding.An FIR was registered at Cantt police station in Kanpur Nagar under Sections 406, 420 and 419 of the Indian Penal Code (IPC).During the EOW investigation, 13 people were found to be involved in the case, according to the agency. Pal had been wanted in connection with the case and was arrested on Friday.The EOW further stated that the accused had allegedly collected and misappropriated approximately Rs 98.56 lakh from the public through the company.
