The case falls under the Mowa–Pandri police station limits, where multiple complaints were received after the accused abruptly went underground in December 2024, stopping all payments and communication with investors.
According to police, Kuldeep targeted middle-class residents by projecting himself as an experienced investment advisor associated with IPO trading, NSE, MSEI and CDSL. He offered what he called a “Monthly KB Plan,” assuring assured profits and regular interest payouts. To build credibility, he initially paid small returns to a few investors, encouraging them to bring in more money.
One of the complainants, Amit Das, a resident of Pandri, told police that he was introduced to Kuldeep during 2021–22. Amit and his brother allegedly invested around ₹15.60 lakh in both online and cash transactions after being convinced of guaranteed profits. Similar methods were used to trap other victims.
Police said that as more people invested larger sums, the accused gradually stopped paying returns and eventually disappeared. Following the complaint, Pandri Police registered a case and launched a coordinated search operation with the Anti-Crime and Cyber Unit (ACCU).
Using technical surveillance, informers and sustained raids, the joint police team traced and arrested the accused after he had been absconding for several months. During interrogation, Kuldeep allegedly confessed to cheating 26 individuals, with the total fraud amount estimated at ₹1,35,14,000.
Police recovered one computer system, a laptop and two mobile phones from his possession, which were allegedly used to manage transactions, communicate with victims and create false investment records. Digital evidence is now being analysed to identify additional victims and possible accomplices.
Investigators also confirmed that the accused has a previous criminal record. He was earlier jailed in a similar cheating case registered at Tikrapara police station, indicating a pattern of financial fraud.
Police officials said the scope of the scam could be larger than currently known and urged citizens to verify credentials before investing in high-return schemes. Further investigation is underway to track the money trail and recover the defrauded amount.
