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Aide of Noida businessman arrested for fraud of Rs 1.15 crore, cash found from underground pits

In a shocking turn of events, the Greater Noida Police unearthed a carefully orchestrated heist, where a cash collection agent, Ketan Singh, 25, was arrested for fabricating the story of the robbery to embezzle ₹1.15 crore from his employer. The incident, which was initially reported as a high-profile robbery near the ATS roundabout, took a dramatic turn with the police investigation exposing the fraud.

By: Ruchi Upadhyay  Pardaphash Group
Updated:
gnews
Aide of Noida businessman arrested for fraud of Rs 1.15 crore, cash found from underground pits

Greater Noida: In a shocking turn of events, the Greater Noida Police unearthed a carefully orchestrated heist, where a cash collection agent, Ketan Singh, 25, was arrested for fabricating the story of the robbery to embezzle ₹1.15 crore from his employer. The incident, which was initially reported as a high-profile robbery near the ATS roundabout, took a dramatic turn with the police investigation exposing the fraud.

Upon receiving a complaint from Singh’s employer Gopal Goyal, the Greater Noida Police swiftly launched an investigation. The purported robbery by Singh, which was said to have been an attack by four unknown assailants while en route to deliver cash to Delhi, was investigated. Police efforts, including examination of CCTV footage, led to Singh’s confession. He reveals his plan to hide the stolen money in a hole at his uncle Guddu’s Bulandshahr residence, revealing a conspiracy hatched for personal gain.

DCP (Greater Noida) Saad Miya Khan said, “A person named Ketan Rana who works in cash collection claimed that he was looted of Rs 1,15,00,000. We immediately reached the spot and after inquiring into the matter, some contradictions were found in his story. On further probing, he accepted that he had hatched a fake loot conspiracy with his uncle. The cash was recovered from his uncle’s house and the case was solved within four hours.”

The prompt action of the officers led to the recovery of ₹1.07 crore from the hideout. Singh’s associate Guddu, who is involved in a conspiracy to take Rs 7.5 lakh from the stolen amount, is currently away from the catch. Both men, who have no prior criminal records, have been charged with charges including fraud, breach of trust and dishonestly receiving stolen property. The police’s continued search underlines their commitment to uncovering the truth and providing justice.

As the investigation progresses, the police are determined to capture Guddu and probe deeper into the motives behind the theft. The case registered at Beta 2 police station has attracted public attention and highlighted the extent to which people can go for financial gain. The incident not only highlights the challenges faced by law enforcement, but also serves as a cautionary tale about the trust placed in individuals responsible for important financial transactions.

The revelations of the scheme have sparked widespread intrigue, leading to closer scrutiny of security measures and the dynamics of trust within businesses. As the community grapples with the implications of this breach of trust, this case remains a focal point of discussion on integrity, vigilance and the sophisticated methods employed with intent to defraud.

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