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Stock Guru mastermind's remand extended, cops probe Mumbai link

Vishnu Sukumaran, New Delhi, Nov 16, 2012, DHNS:

After exposing most of Ulhas Prabhakar Khaire’s scam in the Capital, Delhi Police on Friday decided to take the alleged mastermind of the Rs 500 crore Stock Guru fraud to Mumbai to carry out more raids and question people known to him.

The move comes after a court extended the 33-year-old’s remand from November 21 to 24, and sent his wife, Raksha Urs, 30, to judicial custody.

The couple, held in Maharashtra’s Ratnagiri district last week, is accused of duping an estimated two lakh investors through their firm, Stock Guru India, which promised lucrative returns.

Police are now planning to conduct raids at Mumbai, Ratnagiri and Goa. A special team comprising inspector Raj Kumar Saha, sub-inspectors Afsar Raza, Amit, Harish and head constable Habib Khan with Ulhas left for Mumbai on a train on Friday evening.

“We are hoping to collect more evidence against the couple in Mumbai,” said a senior police official.

The source added that investigators have discovered one of Ulhas’ offices at Lower Parel in Mumbai. Separate teams are expected to visit Bhiwadi (Haryana), Alwar (Rajasthan) and Moradabad (Uttar Pradesh) in the coming weeks.

“We have also managed to unearth more property and bank accounts held by Ulhas and Raksha in Delhi, Ratnagiri and Goa,” said S D Mishra, additional deputy commissioner of police, economic offences wing.


Police have already conducted raids at the couple’s eight flats in south west Delhi’s Dwarka and freezed 94 bank accounts in 20 odd banks.

After a hunt of one year, Ulhas and Raksha were arrested for duping people from Delhi, Uttarakhand, Himachal Pradesh, Sikkim, Rajasthan, Madhya Pradesh and Maharashtra.

Delhi Police have received 14,303 complaints but during investigation about 2,05,062 investors came forward claiming to have invested Rs 10,000 or more.

 

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