A resident of Sector 20 in Chandigarh finds himself facing serious legal trouble after being accused of orchestrating a sophisticated fraud. The case involves the alleged cheating of a local businessman from Sector 51 out of a staggering sum of Rs 30 lakh. The deception was carried out under the guise of a lucrative investment opportunity in a cable television and broadband venture.
Two-Decade Old Friendship Turns Sour
The foundation of this alleged scam was a long-standing acquaintance spanning nearly 20 years. The complainant, Parminder Singh Gill, a businessman with interests in a diagnostic centre, a restaurant, and an electrical goods trade, knew the accused, identified as Amit Kapoor. According to the First Information Report (FIR) registered at the Sector 19 police station, Kapoor first approached Gill in November 2020.
Kapoor's initial request was for a sum of Rs 7 lakh, which he claimed was needed to secure a broadband franchise. Records indicate that Gill complied, paying an amount of Rs 6.30 lakh in cash. This transaction reportedly took place at Kapoor's own shop located in Sector 20.
The Elaborate Partnership Proposal
The plot thickened merely two months later, in early 2021. Kapoor is alleged to have presented Gill with an even more enticing proposition. He persuaded Gill to become his formal partner in the venture, painting a picture of substantial and guaranteed profits.
To make the offer irresistible, Kapoor made several specific claims. He stated that he had already secured a tie-up with a prominent broadband company. Furthermore, he asserted that this company possessed an existing customer base of 646 active connections. The revenue-sharing model was presented as highly favourable, with Kapoor promising a 44% share of the revenue for their partnership.
In a move to showcase his own commitment and build trust, Kapoor declared that he had personally invested Rs 21.90 lakh into the business. He then asked Gill to contribute Rs 15.60 lakh to match the shareholding and become an equal partner. The carrot dangled before Gill was a promised monthly profit of Rs 1 lakh, a significant return on the proposed investment.
Legal Repercussions and Police Action
After allegedly transferring the funds based on these promises, Gill reportedly discovered that the venture and its projected returns were not as presented. The promised monthly profits failed to materialize, and suspicions arose regarding the legitimacy of the entire scheme.
Following his complaints, the Chandigarh Police took cognizance of the matter. A formal case has been registered against Amit Kapoor based on the allegations levelled by Parminder Singh Gill. The police are now investigating the claims of fraudulent inducement and cheating, where a trusted acquaintance allegedly exploited a long-term relationship for financial gain under false pretences.
This incident serves as a stark reminder for investors, even when dealing with known contacts, to conduct thorough due diligence. Verifying business claims, insisting on formal agreements, and being wary of promises of unusually high returns with low risk are crucial steps to avoid such sophisticated scams.
