Delhi Police arrest man in INR 1.5 crore jewellery kitty scam

The Delhi Police Economic Offences Wing (EOW) has arrested 24-year-old Aniket Verma for allegedly orchestrating a jewellery kitty scam that defrauded over 700 people of approximately INR 1.5 crore.

Operating in the Burari area of Delhi, Aniket Verma and his father, Naresh Kumar Verma—the proprietor of M/s Baba Shyam Giri Jewellers—allegedly promised members jewellery worth INR 28,000 in exchange for monthly instalments of INR 1,000 over a 24-month period.

Investigators stated that the accused had fled Delhi and moved to Dubai after disposing of their properties. Following the issuance of Look Out Circulars, Aniket Verma was detained at Surat Airport on September 10, leading to his arrest by the EOW. Police have recovered handwritten receipts signed by the accused as evidence of the cash instalments collected from victims.