Nagpur cops arrest trading firm MD in fraud case from Punjab

The managing director, identified as Sanjeev Kumar alias Mukhtiyar Singh, was arrested from Fazilka after his name cropped up during the investigation into the cheating of investors to the tune of crores by promising hefty returns on their investments.Police had booked the directors of Aimrax Trade Money and My Aim Trade, agents, and others under provisions of the Indian Penal Code and Maharashtra Protection of Interest of Depositors In Financial Establishments Act MPID based on complaints lodged by duped investors.

Nagpur police's Economic Offences Wing (EOW) probing a multi-crore fraud case has arrested the MD of a trading firm from Punjab, an official said on Saturday. The managing director, identified as Sanjeev Kumar alias Mukhtiyar Singh, was arrested from Fazilka after his name cropped up during the investigation into the cheating of investors to the tune of crores by promising hefty returns on their investments.

Police had booked the directors of Aimrax Trade Money and My Aim Trade, agents, and others under provisions of the Indian Penal Code and Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act (MPID) based on complaints lodged by duped investors. Further investigation is underway.