Daijiworld Media Network - New Delhi

New Delhi, Sep 15: The Economic Offences Wing (EOW) of the Delhi Police on Tuesday arrested a 24-year-old man for allegedly orchestrating a jewellery kitty scheme fraud that duped over 700 people of approximately Rs 1.5 crore.

The accused, Aniket Verma, along with his father Naresh Kumar Verma, lured members of the public into depositing Rs 1,000 every month under the promise of receiving jewellery worth Rs 28,000—or an equivalent cash payout—upon completing a 24-month kitty period.

Modus Operandi and Investigation
According to the EOW, a multi-victim case was registered under FIR No. 128/25 on October 8, 2025, invoking Sections 420, 406, and 120B of the IPC following complaints against M/s Baba Shyam Giri Jewellers, located in Jagatpur, Burari.

The father-son duo operated jewellery kitty societies in the Burari area for 10 to 12 years, ultimately cheating an estimated 1,200 people. Investigators found that cash instalments were collected directly from members, backed by handwritten receipts bearing the accused's signatures as documentary proof.

Flight to Dubai and Airport Arrest
After disposing of their local properties in Delhi and Yamuna Vihar, both accused persons fled the country and relocated with their family to Dubai. Following their disappearance, Look Out Circulars (LOCs) were issued by authorities.

The breakthrough came when the EOW received intelligence regarding Aniket Verma's detention at Surat Airport on September 10. A specialized police team comprising Sub-Inspector Rahul Tomar and Head Constable Anil Kumar, under the supervision of ACP Virender Kadyan, traveled to Surat and formally arrested him.

Police stated that further probes are underway to map the complete financial trail, verify the exact number of victims and total collections, and examine the potential involvement of others. Efforts are simultaneously ongoing to apprehend the co-accused, Naresh Kumar Verma, currently residing in Dubai, through diplomatic and legal channels.