Investigation Reveals Fake Investment Schemes Targeting Samba Residents

A detailed probe by the Economic Offence Wing of Jammu’s Crime Branch exposed a network of fraudulent investment schemes that swindled residents of Samba. Inspector Taranjit Singh identified three key perpetrators – Rajesh Kumar Rai, Manoj Kumar and Vikram Singh – associated with Metropolitan Finance Ltd., Manasar Finance Ltd. and Vaibhav Parivar India Projects Ltd. The suspects enticed victims to invest in Compulsory Convertible Preference Shares and fixed‑deposit plans, promising unrealistic returns. RBI audits later cancelled the NBFC licences of Metropolitan and Manasar Finance; Vaibhav Parivar had never been registered as an NBFC. The fraud amassed ₹1,22,96,324 from investors, with bounced cheques and seized documents including CCPS certificates, debentures, money receipts and bank records. The charge sheet seeks enforcement of Section 512 CrPC against the fugitive Rajesh Kumar Rai.