New Delhi, September 15, 2026 (Yes Punjab News)
The Delhi Police’s Economic Offences Wing (EOW) has arrested a 24-year-old man for allegedly cheating more than 700 people of approximately Rs 1.5 crore through a jewellery kitty scheme.
The accused, identified as Aniket Verma, allegedly lured people into depositing Rs 1,000 every month, promising jewellery worth Rs 28,000 or an equivalent amount upon completion of the 24-month kitty period.
The EOW registered a multi-victim case through FIR No. 128/25 dated October 8, 2025, under Sections 420, 406 and 120B of the IPC. The case was filed on the complaints of multiple victims against Naresh Kumar Verma, proprietor of M/s Baba Shyam Giri Jewellers in Jagatpur, Burari, and his son Aniket Verma.
According to the police, the accused operated jewellery kitty societies and committees in the Burari area and collected money from a large number of members by promising substantial returns or equivalent jewellery after completion of the scheme. The investigation found that approximately Rs 1.5 crore had been collected from more than 700 victims.
During the probe, the EOW recovered handwritten receipts from victims acknowledging cash instalments paid to the kitty societies. The receipts reportedly carried the signatures of the accused and were seized as documentary evidence of the alleged collections.
The investigation also revealed that both accused had allegedly fled Delhi after disposing of their properties, following which their whereabouts could not initially be established. Look Out Circulars (LOCs) were subsequently issued against them.
The police later found that the accused had shifted to Dubai with their family.
The EOW received information about Aniket Verma being detained at Surat Airport on September 10. A team comprising Sub-Inspector Rahul Tomar and Head Constable Anil Kumar of Section-I, EOW, under the supervision of ACP Virender Kadyan, travelled to Surat and arrested him.
Police said further investigation is underway to establish the exact number of victims, the total amount collected, the financial trail and the involvement of other persons in the alleged fraud.
Efforts are also underway to apprehend co-accused Naresh Kumar Verma, who is currently residing in Dubai, through legal and diplomatic channels.
The EOW said Aniket, who has completed Class 12 in Delhi, and his family had previously lived in Yamuna Vihar and were involved in the jewellery business. The family operated two jewellery shops, one in Yamuna Vihar and another in Burari.
According to the EOW, Aniket and his father had been running kitty societies and committees for the past 10-12 years and had allegedly cheated around 1,200 people. The family subsequently fled to Dubai after allegedly disposing of their properties in Delhi.
FOLLOW NOW
