Stock Guru scam: Ullhas PC extended

Nov 17 2012, 02:42 IST
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SummaryThe police custody of Ullas Prabhakar, an accused in the multicrore Stock Guru scam case, was today extended by a court here after Delhi Police said he has to be taken to Goa, Mumbai and Ratnagiri to recover documents, hard disks and other evidence.

to seek further orders from the competent authority."

The couple was arrested by EoW on November 10 from Ratnagiri in Maharashtra for allegedly duping around two lakh investors from seven states of nearly Rs 500 crore by promising them high returns through their firm M/s Stock Guru India dealing in stock market.

Ullas (33) from Nagpur, Maharashtra and Raksha J Urs (30) from Mysore allegedly assumed 14 different identities, seven each. They posed as doctors, investors, businessmen and ran several fraudulent firms.

The police said it has till date received 14,303 complaints in Delhi but during investigations found that there were about 2,05,062 investors who had invested Rs. 10,000 or more totalling an investment of about Rs 493 crore in M/s Stock Guru India.

It said a case was registered in 2010 but the duo managed to evade arrest by hiding in Moradabad, Dehradun, Alwar, Nagpur and Goa.

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