Delhi Police have arrested a man who allegedly deceived more than 40 people from their investments through bogus schemes proposed by him in the name of producing a Bollywood film. The defendant, identified as Udit Oberoi, ran a company called Swag Productions and organized events where he invited investors and showed trailers to get money for a movie.
However, last year he fled with more than Rs 2 crore of the amount invested, police said.
A case was registered with Delhi Police after 33 of the investors filed a complaint in 2020. The victims alleged that the defendant promised high returns and said he worked with film producers and directors .
Initially some of the investors received returns, but later the accused stopped paying everyone. When they approached the company, they discovered that the trailers for the film were fake and that the accused was not producing any films.
RK Singh, Additional Police Commissioner (Economic Crimes Wing), said: We found that the company is not registered with the Reserve Bank of India as a non-bank finance company. Udit had shut down all of the company’s operations and could not be located.
During the investigation, police sent notices and conducted several raids on Delhi-NCR to catch Udit. Police said the man was trying to flee to Armenia and was arrested while in Mumbai filling out visa papers.
The man confessed to his crime and is also involved in another Sarita Vihar fraud case in 2019.
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