India News | Franchise Fraud Case: Key Suspect's Relative with Rs 29 Lakh Held

Noida (UP), Sep 15 (PTI) Gautam Buddh Nagar police on Tuesday arrested a relative of the key accused in the franchise fraud case from adjoining Ghaziabad district and recovered Rs 29 lakh cash from him, officials said.

This is the seventh arrest in the fraud case in which scores of investors across multiple states, including Uttar Pradesh, Maharashtra, Gujarat and Chhattisgarh, have been duped to the tune of around Rs 50 crore, the officials said.

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"Subhash Kumar Singh, a cousin of key accused Rajesh Kumar, was held near the Vaishali Metro Station. He was carrying a travel bag in which 58 wads of Rs 500 currency notes, totalling Rs 29 lakh, were found,” Deputy Commissioner of Police, Central Noida, Harish Chander said.

"He has been arrested in connection with the fraud done with investors of Westland Mart in the Phase 3 police station area of Noida," Chander said.

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Eight FIRs have been lodged at the Phase 3 police station in connection with the fraud case and so far six people, including four Ghaziabad-based members of the group, arrested, the police said.

On August 22, Gautam Buddh Nagar police had seized properties worth around Rs 10 crore, including 3.300 kg gold and Rs 13,54,550 cash and a Mercedes car, from the four Ghaziabad-based accused, the officials said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)