Stock Guru victims invited to get in touch with police

NAMCHI, 28 June: The SP [South] has called on victims of the Stock Guru India scam to get in touch with his office or with the Namchi Police Station OC with their complaints against the company or any other details they might want to share on the nature and extent of the scam.
The Police here, it may be recalled, has frozen one of the bank accounts [with deposited amount of around Rs. 10 crore] of Stock Guru India Ltd. which now stands accused of operating the banned prize chit-fund money circulation fraud.

SP [South], Manoj Tiwari, confirmed this today, informing that the fraud by Stock Guru came to light a few months ago with the arrest of is two agents in South Sikkim. Now, the Namchi cops have apparently unspooled the scam till the brains behind the scheme, its Delhi-base proprietor, Lokeshwar Dev. The main accused, however, remains absconding.
As per records at the Namchi Police Station, an FIR was registered on 27 August last year under Section 420 of the IPC read with Section 4/5 of Prize Chit Fund and Money Circulation Scheme (Banning) Act and section 20 of Sikkim Protection of Interest of Depositor Act, 2009 against Stock Guru India Ltd. At that time, Lokeshwar Dev and Priyanka Dev were identified as the people behind the scam which was promising people 20% returns per month on investments.
According to the SP South, Lokeshwar Dev had claimed that he was a technical analyst in the stock market and the scheme and its usurious returns had lured many to invest in the company. Two agents working for Stock Guru in Sikkim were arrested and one bank account frozen by Namchi police.
Lokeshwar Dev had managed to get a stay on his arrest from Delhi High Court and had then run away with the deposits. The whereabouts of the couple remain unknown, but the cops have at least one bank account with Rs. 10 crore in deposits.
The SP has appealed to “investors” and victims of the Stock Guru India fraud to contact the Namchi Police Station OC or the SP South Office at telephone: 03595 263722, 94342 57362 (Mobile) and 03595 263726, 9733344400 (Mobile).
The SP has also appealed to the general public to remain wary of ‘investment’ schemes which promise unnaturally high returns.