Editor’s Note
This article details a sophisticated international fraud case, where a real estate businessman was allegedly defrauded of a significant sum in a diamond trade investment scam. The investigation, leading to an FIR, highlights the cross-border nature of such organized crime.
An organized gang that defrauded a real estate businessman of 1.80 crore rupees (approximately 180 million rupees) under the guise of diamond trade investment has been exposed. This gang’s network extends all the way to Dubai. After a lengthy investigation, the Zirakpur police station has registered an FIR against several accused linked to Varm Exports Company, which is reportedly active in Dubai and India.
The police will now peel back the layers of this organized economic crime gang operating at interstate and international levels. The investigation was initiated based on a complaint filed by Ramesh Kumar, a real estate businessman residing in Motia Heights, Dhakoli.
In 2023, during his real estate business dealings, Ramesh met a woman named Sonu Chauhan. Sonu introduced herself as a representative of Varm Exports in Punjab and facilitated meetings for Ramesh and his associates with individuals presented as the company’s directors: Ankush Sharma, his wife Uma Sharma, Ramesh Kirubalani, and Ram Praveen Kangaraj.
They showed company-related documents, trade licenses, GST numbers, and MSME registration to the victims. To strengthen the investors’ trust, they were even taken on a visit to the company’s office in Dubai, where the diamond trading business was showcased.
Subsequently, written investment agreements were signed in Zirakpur on July 10 and July 19, 2023. Under these agreements, Ramesh Kumar, his son Kashish Moga, and his partners Jaspreet Singh and Jatinder Moga transferred a total of 1.80 crore rupees to the accused on different dates via bank transfers, cash payments, and cheques. Despite receiving the funds, the accused neither provided the promised profit on time nor returned the principal amount.
During the investigation, police examined the investment agreements, bank account details, cheques, cash transactions, email correspondence, and witness statements. The preliminary investigation found the allegations to be correct. Following this, a case has been registered at Zirakpur police station against Ankush Sharma, Uma Sharma, Ramesh Kirubalani, Ram Praveen Kangaraj, and others under charges of cheating, criminal breach of trust, forgery, and conspiracy.
