Fugitive fraudster Rajesh Sharma, his wife arrested from Hyderabad

Source: The Hitavada      Date: 31 Aug 2017 10:13:13

Staff Reporter,


Aug 30,

After a long interval of over six years, scamster and Director of Dolphin International School Rajesh Sharma and his wife Uma Sharma was arrested by a team of Special Investigation Cell (SIC) of Chhattisgarh Police from Hyderabad yesterday at 6am. Rajesh Sharma who was absconding since March 8, 2011, was alleged to be involved in a scam of approximately Rs 55.5 crore, was arrested from Medchal in Hyderabad.

The SIC unit brought the scamster and his wife under high security to Raipur on Tuesday late night and after brief interrogation formally arrested him under Sections 420, 409, 467, 468, 471, 120B of IPC and was produced in the court of Anand Prakash Dikshit, Chief Judicial Magistrate.

On the application moved by police, the designated court allowed a police remand of 7 days till September 5 to Rajesh Sharma while his wife Uma Sharma was sent on judicial remand for 15 days till September 13. Sharma and his wife were arrested from teachers’ quarters situated in the premises of Hightech Modern Residential High-school, Medchal in Hyderabad, where both were employed and were residing since last 3 months.

It is being stated that Sharma used to teach Economics and English while his wife taught Hindi in the said school. Apart from that, Sharma was also the Coordinator of the school. Sharma and his family which comprised of his wife Uma and daughter, had fled from Raipur all of a sudden on March 8, 2011. At that time there were very strong rumors that Sharma family had fled to some foreign country, preferably United State of America. Believing on the rumors, police had also issued Red Corner Notice through INTERPOL against Sharma and his family.

It may be recalled that Rajesh Sharma, who was earlier employed as a teacher in a city school in Raipur, shot to fame as he managed to open a chain of 43 schools in the name of Dolphin International School throughout State. He had managed to convince the parents of children studying in his chain of schools to deposit school fees at one go against certain discounts and incentives and managed to accumulate huge amount of money. He offered the parents of students who took admissions in Class 1 in his school to pay Rs 1.20 lakh at one go, which would cover the child’s tuition fees till Class XII. He also offered that such students when they pass out from the school after Class XII, they will be refunded Rs 50,000. Hundreds of parents came into his luring and paid the money.

Due to the money and fame involved, he got attracted among who’s who, in the state. It is being alleged that he had managed to convince big shots from the capital to invest their black money in his school chain and his other finance and celluloid business. A time had come when Sharma had engaged Mukesh Khanna of the Shaktimaan fame as the brand ambassador of his chain of schools. He had also close links with Gufi Paintal as well as with several film production houses in the Tinsel-town. He had even produced a film, which couldn’t be released due to lack of market demand. Sharma’s downfall came as his film ventures flopped, where he had invested huge amounts coupled with incurring huge losses MCX and share trading. A time came when people who had invested money with him started demanding their investments back. He had even employed armed guards for a period to get protection from these big shots. It is being stated that the amount involved in this scam crossed over Rs 200-400 crore. Failing to cope up with the threats and pressure, Sharma suddenly fled from the capital along with his family one night.

Talking to mediapersons while in police custody, scamster Rajesh Sharma said once a rich man, he doesn’t even have money to hire a lawyer for his defense. He said circumstances are responsible for his condition. At that time some of his employees had betrayed him and had not deposited the school collections, due to which he incurred huge losses. He had taken loan from various quarters which he defaulted due to circumstances where he has suffered a lost of over Rs 50 crore. He said he had no option, but to flee as there was no one to look after his wife and daughter. Sharma said presently he was working with the Hightech Modern Residential High-school, Medchal in Hyderabad, where he taught Economics and English while his wife taught Hindi. They used to draw Rs 15,000 as salary while his wife used to draw Rs 10,000. He said his daughter is suffering from Cerebral palsy and there is no one to look after her. He added that he’s also suffering from heart problem while his wife has spinal problems.

Inspector General of Police (Raipur Range) Pradeep Gupta, IPS, has announced an award of Rs 25,000 to the team of Special Investigation Cell, which not only tracked the scamster and his family but also was successful in arresting them. Sanjeev Shukla IPS, Superintendent of Police, Raipur has also announced an award of Rs 10,000 for the team. The team which was led by ASI Ram Ratan Bhoi, ASI Sovant Singh Rawat and Constables Ashwini Sahu, Narendra Yadav and Rashmi Khakha.