New Delhi: The Economic Offences Wing (EOW) of the Delhi Police has apprehended a 44-year-old man, Mohit Wadhwa, also known as Manu, for allegedly defrauding 14 followers of a spiritual leader out of more than Rs 9 crore. The accused lured victims into fictitious investment schemes with promises of exorbitant returns, officials reported on Wednesday.
Wadhwa was arrested on May 9 in Subhash Nagar. Alongside his associates, who are also devotees of a spiritual figure referred to as Guruji, Wadhwa regularly attended ‘satsangs’ (spiritual gatherings) at the Bade Mandir in Chhatarpur. This allowed him to cultivate trust within the community, which he exploited to entice fellow devotees into investing in various schemes purportedly based in Dubai.
“Leveraging the trust established within the religious community, the accused allegedly convinced victims to invest in these schemes, promising extraordinarily high returns. Between September 2017 and September 2020, they collected approximately Rs 9 crore in multiple installments,” stated Deputy Commissioner of Police (EOW) Amit Verma.
The investigation was initiated following a complaint from Gurpreet Kaur Rai. Subsequently, three additional families came forward, bringing the total number of victims to 14. The complainants reported that, despite repeated assurances from Wadhwa, he neither returned their investments nor provided any documentation regarding the supposed ventures.
During the investigation, victim statements were recorded, and bank transactions were meticulously examined, which partially corroborated the financial trail linking the accused to the complainants.
“The evidence collected thus far substantiates the allegations against Mohit Wadhwa, and efforts are underway to locate his associates,” the DCP confirmed.
A case has been filed at the Economic Offences Wing (EOW) police station under various sections of the Indian Penal Code, including 406 (criminal breach of trust), 420 (cheating), and 120-B (criminal conspiracy), as confirmed by DCP Verma.
According to police reports, the accused, a Class 12 graduate and married individual, previously organized satsangs at his residence, attracting large gatherings of devoted followers.
“He exploited their faith and trust for his own personal gain,” stated the officer. Furthermore, it has come to light that Wadhwa has a history of legal troubles, having been arrested previously in a similar case involving fraudulent activities against investors.
