Gurgaon Police Nabs Jammu Businessman in Multi-Lakh Partnership Fraud Case
The Economic Offences Wing II (EOW II) of the Gurgaon police has made a significant arrest in a high-value financial fraud case, apprehending a 37-year-old Jammu-based businessman for allegedly defrauding his business partners of over Rs 67.7 lakh through deceptive partnership offers and subsequent disappearance.
Details of the Arrest and Accused
The accused, identified as Mithun (37), a resident of Dashmesh Nagar in Jammu district, was arrested in Palava City, Maharashtra on Sunday. Mithun operated a firm named Nascent Company that specialized in plastic crate manufacturing and distribution. According to police officials, the arrest followed a thorough investigation that traced his movements across states.
Chronology of the Fraudulent Scheme
The case originated from a formal complaint registered on November 26, 2024 at the Kherki Daula police station in Gurgaon. Two city-based businessmen, Sandeep Kumar and Rajesh Kumar, alleged that Mithun had enticed them to invest approximately Rs 67 lakh by offering them partnership positions in Nascent Company.
Both investors were officially made partners of the business in 2021, but police investigations revealed they were neither given any operational role in the company's activities nor received any share of profits. The situation deteriorated further when Mithun abruptly vanished after shutting down the firm entirely in 2022, having previously sold off the company's machinery and goods without informing his partners.
Police Investigation and Confession
During interrogation, Mithun reportedly admitted to the fraudulent activities. Police disclosed that the accused confessed to the crime and revealed he was simultaneously operating another business entity in Palava City dealing with fruit supply, suggesting possible expansion of his fraudulent operations.
Legal Proceedings and Ongoing Investigation
Following his arrest, Mithun was produced before a local court on Monday and was remanded to one day's police custody for further questioning. Sandeep Kumar, the police spokesperson for Gurgaon, stated that "an intensive interrogation is currently underway to identify possible associates, recover the defrauded amount, seize relevant documents, and probe his potential involvement in other similar cases."
Broader Implications and Business Advisory
This case highlights the growing sophistication of financial frauds targeting business partnerships in the region. The Economic Offences Wing has emphasized the importance of thorough due diligence before entering into business agreements, particularly when substantial investments are involved. The arrest serves as a warning to potential fraudsters while reassuring victims that financial crimes are being actively pursued by specialized police units.
The Gurgaon police continue their investigation to determine the full extent of the fraud and whether additional victims exist beyond the two identified complainants. Business communities in both Gurgaon and Jammu are being alerted to exercise caution when considering partnership opportunities with unfamiliar entities.
