Indore (Madhya Pradesh) [India], November 17 : Madhya Pradesh police arrested a 50-year-old man, Hamood Siddiqui, in connection with nearly 25-year-old fraud cases from Hyderabad, police said on Monday.
A reward of Rs 10,000 had been announced for the arrest of accused Hamood Siddiqui, who is the brother of Jawad Siddiqui of Al Falah University. Notably, the Fariadabad-based Al Falah University has been linked to the Delhi blast incident.
According to police, three cases were registered against Hamood Siddiqui at the Mhow police station under relevant sections of fraud in 2000.
Superintendent of Police (Rural), Yangchen Dolkar Bhutia, told reporters, "We are running a special drive to catch those old accused who are carrying rewards and those absconding. Under the campaign, we have arrested Hamood Siddiqui from Hyderabad. Currently, he is around 50 years old and used to run his own share marketing investment company in Hyderabad. Hamood Siddiqui is a resident of Mhow, and in 1995-96, he ran a financial company called Al Fahad Fin Com Limited. He was the managing director, along with his wife and another acquaintance. They embezzled lakhs of rupees. Three complaints were registered against him in relation to embezzlement of around Rs 40 lakhs."
"Siddiqui was on the run for a long time, and the Indore police did commendable work of arresting him without any noise. Siddiqui has been arrested for the first time in relation to the matter. It was an investment fraud in which the accused took money from people, promising to give them around 20% interest. He ran the company for about two years, and in the third year, he absconded with his family," she added.
"During interrogation, it came to light that ever since he left the place, he hadn't kept in contact with anyone here nor with the family members. Siddiqui has a very large family, and his father had three wives, and there were around 16-17 siblings," the SP said.
When asked about his relation with Jawad Siddiqui of Al Falah University, which is linked to the Delhi blast incident, the officer added, "Jawad Siddiqui is his (Hamood Siddiqui) elder brother. Jawad has no involvement in the fraud case."