Siddharth Pramod Pillani prop. Capital Berg arrested by EOW in 7 crores cheating fraud case ,sent to 14 days judicial custody

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File picture of accaused Siddharth Pramod Pillani Proprietor,Capital Berg,

After his recent arrest by EOW from Jaipur for duping 170 investors of Rs7 cr for high returns,
Siddharth Pramod Pillani, Proprietor,Capital Berg, has been sent to judicial custody for 14 days till (1 August) by Mumbai Sessions Court.

As per confirmation by Sadanand Rane ,Senior Inspector, MPID Unit, accused Siddharth Pillani after his arrest from Jaipur on 13 July, and on thorough investigation into the case, the very next day, 14 July, he was produced in Sessions Court and got five days police custody.

Siddharth Pramod Pillani, Proprietor,Capital Berg, at produced before Session Court.

He further said, that we booked accused Siddharth Pramod Pillani, owner of Capital Berg, an investment firm, u/s 420, 406,409,and 34 of the IPC Act Section 3 and 4 of the MPID Act.
According to sources, accused Siddharth Pillani was also booked in a cheating case in 2019 in which he is accused for duping 13 investors to the tune of Rs.14 cr. Later, he was granted anticipatory bail in that

Amid a brief convesation with Hello Mumbai News, one of the Senior Officer attached to MPID Unit 8, affirmed
“our investigation is still in progress, and if anyone has been cheated by this fraudster accused and incase, they have yet not registered their complaint, it is our appeal to them to not to be scared or fear, but, to come to our office. We will register their complaints, further adding “it seems it’s a big scam and we think more people may be victims of this dubious scam.

We are also searching bank details and other financial transaction details. At the same time, we are also working on their clinic revenue module too.

To put it aptly clear, it’s a big scam because, company do not have legal permission from the concerned authorities.

Brief facts of the case :

The MRA Marg Police have booked a fraudster for allegedly duping a number of citizens of close to Rs.30 crore on the pretext of an investment scam. The accused man contacted people through a woman and sought investments, only to later allegedly dupe them. While a case has been registered, the same was transferred to the Economic Offences Wing (EOW).

According to the First Information Report (FIR), the complainant, son of a renowned numerologist and Vastu consultant Biindu Khurana, his family was cheated of lakhs of rupees on the pretext of investing it for handsome returns. While Khuraana and his family had invested close to Rs. 60 lakh from June to December in 2020, the current valuation of the money as per the share market is over Rs.13.8 crore.

While Speaking with Hello Mumbai News over phone , Biindu Khuraana said that the accused, Siddharth Pilani, had come to her with a strong reference of one of her clients, who shared the investment plans and took her in confidence to share the same plan with her clientele as well as acquaintances. “Believing it to be a genuine investment plan, I invested money along with my family and gave Pilani’s reference to my other clients as well, wherein he gained a clientele of 170 people. We all invested money, and also received handsome returns, following which we invested in double-triple, only to be later duped,” said the renowned numerologist.

Months later, when the returns stopped coming and there was allegedly no correspondence from Pilani, when Khurana checked his whereabouts, he was untraceable. While pilanis brother asked for a meeting via a third person , the said meeting never took place as Siddhartth Pilani was nowhere in the picture

The complainant has accused that while Pilani returned Rs. 64.85 lakhs as returns on investment, the current market value of the amount is Rs.13.79 Crore with profits and bookings. Similarly, with 170 investors duped with the same modus operandi, police suspect it to be a huge investment scam to the tune of Rs.30 crore and more.

Biindu khuranna said that Pilani and his associates have been trying to defame her.She told Hello Mumbai  that she has played no role whatsoever in the scam and in reality, was just as much of a victim as any of the other investors .

While the EOW registered a case of cheating, criminal breach of trust, and common intention against Pilani and a capital proprietorship firm, along with sections of the MPID Act, they are probing the matter.

 

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