UP STF arrests man for duping investors

Lucknow, Jan 9 (IANS) The Uttar Pradesh Special Task Force have arrested a man, who duped people of crores of rupees by promising them higher interest rates, and doubling their invested principal amount in five years. He fled after shutting the investment firm run by him, police said.The accused has been identified as Rahul Sharma, a resident of Uttar Pradesh's Mathura, and was arrested from Lucknow.The police added that Sharma had a number of cases registered against him at several police stations in Lucknow.According to police, the accused opened an investment firm and asked people to invest money by promising them a monthly interest rate of five per cent and assuring them to double the invested money in five years.After scores of people invested huge amount of money, the company was shut and Sharma went absconding.
--IANS amita/khz/

(Disclaimer: This post has been auto published from IANS news agency without any modification to the text and has not been reviewed by editor)