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Man dupes traders of Rs 2 cr, held

New Delhi, April 5, 2013 DHNS:

A 32-year-old man has been arrested for duping several businessmen of over Rs 2 crore on the pretext of providing bulk orders from housing companies, police said on Thursday.

Mohit Wadhwa, a resident of West Patel Nagar, was held over a complaint by Palvinder Singh Rakhara, a prominent distributor of air conditioners. “Initially, to win the trust of the dealers and distributors, he used to place small orders on credit payment basis and ensured that post dated cheques were timely honoured,” said K K Vyas, deputy commissioner of police (economic offences wing).

After winning the trust of the victims, Mohit used to place larger orders, make part payment and then abscond. All the post dated cheques issued subsequently for balance payments bounced.

“He later sold the goods obtained from victims in open market,” Vyas added.
Palvinder alleged that Mohit had approached him at his shop in March 2012. “Mohit presented himself as a businessman with connections and having bulk orders from housing projects undertaken by reputed housing companies,” Vyas said.

He convinced Palvinder to give goods on seven days credit basis, after which many cheques were issued. Initially, the cheques were cleared, but later on cheques worth Rs 32 lakh bounced. “Mohit gave several excuses for non payment, but changed his mobile number later. He refused to meet the complainant and also changed his address,” Vyas added.

Palvinder discovered that several other businessmen were also cheated using the same modus operandi. Over a period of time, 18 more complaints against Mohit were received from distributors of air-conditioners, mobile phones, generators, TVs, home appliances and electronic goods located in Delhi and Ghaziabad.


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