Fugitive Businessman Praveen Kumar Kapoor Deported to India
Praveen Kumar Kapoor, co-founder of SRS Group, was stopped by US authorities at Newark Airport based on an Interpol red notice and deported to India. Kapoor is accused of cheating investors and banks of ₹2,200 crore. He was taken into custody in Delhi and is being questioned. The Enforcement Directorate is investigating money laundering and has attached assets worth ₹2,215 crore.
Praveen Kumar Kapoor, co-founder and promoter of the SRS Group, was intercepted by US authorities at Newark International Airport on October 31 based on an Interpol red notice and deported to India on November 1. Kapoor, 62, was taken into custody by Faridabad police upon arrival in Delhi on November 2 and is currently being questioned about the whereabouts of his co-accused, Jitender Kumar Garg and Sunil Jindal. The Enforcement Directorate (ED) is investigating Kapoor and his associates for allegedly cheating investors and banks of ₹2,200 crore through fraudulent investment schemes and laundering the funds through shell companies. The ED has already attached assets worth ₹2,215 crore in the case. Kapoor, along with Garg and Jindal, had been absconding for several years, reportedly hiding in Georgia and Dubai. The ED has initiated proceedings to declare all three as fugitive economic offenders under the Fugitive Economic Offenders Act. Multiple agencies, including the ED, CBI, and Haryana police, are investigating the SRS Group for fraud, criminal breach of trust, and money laundering. Kapoor is accused of orchestrating a criminal conspiracy to lure investors with false promises of high returns, siphoning off funds, and inflating company books through circular transactions and round-tripping to secure loans from banks, which were then diverted to shell companies and family members.
