UP EOW Nets Big Fish in ₹49,000 Crore Land Scam
The Uttar Pradesh Economic Offences Wing (EOW) has made significant arrests in two major financial fraud cases. Gurnam Singh was apprehended for his alleged involvement in the massive ₹49,000 crore PACL land scam. This scam defrauded thousands of investors who were promised land in return for their deposits.
In a separate operation, Prem Prakash Singh was arrested in connection with the ₹250 crore insurance fraud perpetrated by V-Care Multitrade Pvt. Ltd. Investigations are underway to unravel the intricate network behind this fraudulent scheme.
The EOW’s actions signal a determined crackdown on financial crimes in the state. Further arrests are anticipated as the investigations delve deeper into both cases.
This decisive action by the UP EOW sends a strong message to those involved in similar fraudulent activities. The ongoing investigations are crucial not only for recovering the defrauded funds but also for restoring public confidence in the financial system. The scale of these scams highlights the urgent need for greater investor awareness and stricter regulatory oversight.
