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Ludhiana man loses over 18L to investment fraud

By, Ludhiana
Jan 17, 2025 10:54 PM IST

The Sarabha Nagar police have registered a case against the accused— Pinder Sodhi, Ramdas (both residents of Hoshiarpur), and an unidentified woman, who introduced herself as Pooja Rani.

A city resident fell victim to a fraud worth over 18 lakh after being lured by promises of a 5-lakh dollar investment. The complainant, Sukhbir Singh, 49, of Tagore Nagar, who runs a business involving agricultural residue was struggling with financial losses, was duped by three individuals, including conman Pinder Sodhi and a woman, impersonating as an official of the Reserve Bank of India (RBI).

A Ludhiana resident fell victim to a fraud worth over <span class='webrupee'>₹</span>18 lakh after being lured by promises of a 5-lakh dollar investment. The complainant, Sukhbir Singh, 49, of Tagore Nagar, who runs a business involving agricultural residue was struggling with financial losses, was duped by three individuals, including conman Pinder Sodhi and a woman, impersonating as an official of the Reserve Bank of India (RBI). (Shutterstock/ Representational image)
A Ludhiana resident fell victim to a fraud worth over 18 lakh after being lured by promises of a 5-lakh dollar investment. The complainant, Sukhbir Singh, 49, of Tagore Nagar, who runs a business involving agricultural residue was struggling with financial losses, was duped by three individuals, including conman Pinder Sodhi and a woman, impersonating as an official of the Reserve Bank of India (RBI). (Shutterstock/ Representational image)

The Sarabha Nagar police have registered a case against the accused— Pinder Sodhi, Ramdas (both residents of Hoshiarpur), and an unidentified woman, who introduced herself as Pooja Rani.

According to the complaint, Sukhbir sought investors to save his failing business and approached his friend Harjeet Singh for help. Harjeet introduced him to Ramdas, who claimed that an associate, Pinder Sodhi, could secure international investments. To build trust, Ramdas showed Sukhbir a bank slip of 1 lakh dollars, which he alleged Sodhi had invested for him.

In May 2023, Sukhbir met Sodhi, who promised an investment of 5 lakh dollars from a Romanian company, demanding 2.10 lakh as an initial fee. Despite arranging and paying the amount, Sukhbir received no investment. When he confronted Sodhi, he was told the payment was stalled by the RBI and advised to travel to Delhi.

In Delhi, Sodhi introduced Sukhbir to a woman near Rashtrapati Bhawan who posed as an RBI official. She demanded 7 lakh as a commission. After handing over the money, Sukhbir was given a document claiming 3 lakh dollars had been transferred to his account. However, the money never arrived.

Over time, the accused extracted more money in instalments, showing fake transaction slips to justify their claims. When Sukhbir demanded his money back, the accused began threatening him. Realising the scam, he lodged a police complaint on August 23, 2024.

Police investigations revealed that Sodhi is a seasoned fraudster with a history of duping people.

ASI Gurmeet Singh, who is investigating the case, stated that an FIR under Sections 420, 465, 466, 467, 471, and 120-B of the IPC has been registered, and further investigations are underway.

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