NRI Father-Son Duo Accused of Rs 70 Lakh Investment Fraud in Chandigarh

Chandigarh police have initiated a thorough investigation into a significant investment fraud case, booking an NRI father-son duo for allegedly swindling a local resident out of a staggering Rs 70 lakh. The accused, identified as Balwinder Singh and Kamaldeep Singh, both Non-Resident Indians currently residing in Canada, are facing serious charges of cheating, criminal breach of trust, and criminal conspiracy under various sections of the Indian Penal Code.

The intricate case began with a formal complaint lodged by Tarvinder Singh, a resident of Sector 48, Chandigarh.

According to Tarvinder's detailed statement to the police, the fraudulent scheme unfolded between 2017 and 2019. During this period, Balwinder Singh and his son Kamaldeep Singh allegedly approached Tarvinder with an enticing investment proposition, promising exceptionally high returns on his capital.

Lured by these seemingly lucrative assurances, Tarvinder Singh invested a substantial sum of Rs 70 lakh with the duo.

However, as time progressed, the promised returns never materialized. Despite repeated attempts by Tarvinder Singh to contact Balwinder and Kamaldeep and reclaim his invested money, he was met with evasion and empty promises.

The situation escalated when the father-son pair reportedly ceased all communication and failed to return any of the invested amount, leading Tarvinder to realize he had been thoroughly defrauded.

Acting on Tarvinder Singh's comprehensive complaint, the Economic Offences Wing (EOW) of the Chandigarh police launched an exhaustive inquiry.

Following a meticulous investigation and verification of all presented facts and evidence, the EOW concluded that a prima facie case of fraud, criminal breach of trust, and criminal conspiracy existed against Balwinder Singh and Kamaldeep Singh.

Consequently, an FIR has been officially registered at the Sector 34 police station under Sections 420 (cheating and dishonestly inducing delivery of property), 406 (criminal breach of trust), and 120-B (criminal conspiracy) of the Indian Penal Code.

Police sources indicate that efforts are now underway to contact the accused in Canada and bring them to justice. This case serves as a stark reminder for potential investors to exercise extreme caution and conduct thorough due diligence before committing funds to schemes promising unusually high returns, especially when dealing with individuals residing abroad.