In a significant breakthrough, the Economic Offences Wing (EOW) in Lucknow has successfully apprehended a key accused who had been evading arrest for years in a major chit fund fraud case. The arrest is part of a sustained drive by the agency to track down individuals wanted for serious economic crimes across Uttar Pradesh.
Details of the Fraudulent Scheme
The case revolves around Lehnga Web World Company, a chit fund investment firm that set up its office in Kanpur Nagar back in 2011. The company allegedly attracted investors with an irresistible promise: it guaranteed to double their invested money within a short span of 12 months. Relying on these high-return assurances, numerous individuals entrusted their savings to the company.
Investigations reveal that the firm managed to collect approximately Rs 48 lakh from the public. However, the operation turned out to be a sham. In 2012, shortly after amassing the funds, the company abruptly shut down its Kanpur office. The operators vanished overnight, leaving investors in the lurch without returning their principal amount or paying the promised lucrative returns.
The Long Road to Justice
Anguished investors soon filed formal complaints, leading to the registration of a First Information Report (FIR). The case was initially probed at the district level before being transferred to the specialized Economic Offences Wing on July 3, 2012, due to its complexity and scale.
The EOW's thorough investigation identified seven individuals as culpable in orchestrating the fraud. While legal action was subsequently taken against four of the accused, three others remained at large, successfully avoiding capture for over a decade.
Arrest in Ongoing Crackdown
The recent arrest marks a crucial step in closing this long-pending case. The apprehended accused has been identified as Shailendra Tiwari, a resident of Yashodanagar in Kanpur. His arrest on Friday came as a direct result of the EOW's focused efforts to locate and detain wanted persons involved in financial scams.
This action underscores the EOW's commitment to pursuing economic offenders, no matter how much time has passed. The arrest sends a strong message that law enforcement agencies are persistently working to bring fugitives to book and deliver justice to victims of financial fraud. The search for the remaining two absconding accused is reportedly ongoing.
