STATE TIMES NEWS
JAMMU: Crime Branch (CB) has booked five top executives, including Chief Executive Officer (CEO) of a company for enticing and duping 10 Jammu residents of Rs. 2.95 Crores, official said.
“The accused hail from Punjab, Haryana and Himachal Pradesh, whereas all the complainants belong to Jammu,” official added.
“Victims of big fraud namely Parshotam Kumar, son of Girdhari Lal, resident of Satwari, Jammu and nine others had lodged a complaint with CB alleging therein that the accused persons namely Rahul Verma, son of Raghbir Sain, resident of Gurdaspur, Punjab, Rajeev Verma, son of Raghbir Sain, resident of Gurdaspur, Punjab, CEO of the company, Pardeep Saini resident of Haryana, Raman Awasthi, resident of Himachal Pradesh, Rishi Sharma, resident of Shimla, Himachal Pradesh and others approached the complainants and apprised them with an investment plan under the name and style of New York Live Trade Business Plan,” official said.
The official said, “The accused persons introduced themselves as the top management of the said company and convinced the complainants that the aforesaid company is duly registered company with the Registrar of Companies for England and Wales incorporated under the companies Act, 2006 as a private company having its registered office at England and Wales.”
“The accused persons enticed the complainants that they could earn huge profits by becoming either an investor or a networker in the said company as the said company further invests the money of the investors in various sectors such as Forex, Cryptos, Commodity Trading and Shares Tradings. The complainants, on the assurances of accused persons, enrolled with the company and started doing networking with the said company. The said company used to operate on a site and the complainants opted for networking and they were allotted their separate IDs, from which they used to invest their own money as well as the money of the other people. Each complainant had a team which they had created by the way of networking. In the year 2023, all the things were going great as the company named above was timely giving the payouts to the complainants and their commissions were also coming on time. So, the complainants also invested huge amount by way of cash also. Suddenly the operating site of ‘New York Live Trade Business Plan got shut. The complainants made every possible effort to reach out to the accused persons, but phone numbers of all the accused persons were switched off,” official said.
Senior Superintendent of Police Crime Jammu Benam Tosh confirmed that FIR 11/2025 under Sections 420, 120-B IPC, 66-D IT Act has been registered for in-depth investigation, as contents of the complaint and preliminary verification report prima-facie revealed commission of cognizable offence punishable under law.