SIMS MD Surendra Gupta duped 35,000 depositors

Surendra Gupta, Managing Director of Secured Investment Making Services (SIMS), was produced before the court in Visakhapatnam on Tuesday evening.

He was taken into custody along with three other directors for financial fraud to the tune of Rs 500 crore. Earlier, Gupta was taken to hospital for medical examination. The police filed a charge-sheet stating that Surendra Gupta cheated 35,000 depositors in 17 branches to the tune of Rs 320 crore.
Meanwhile, the depositors were continuing their protest demanding their money back. A depositor cum agent had been committed suicide jumping into a running train at Anakapalli.
-Sakshipost