Add Your Photos and Video to This Story

After losing in stock market, 2 MBA students kidnap boy in New Delhi

by Sanjay Jha | November 24, 2008 at 02:22 am

36 views | 0 Recommendations | add comment

Police in the Indian capital New Delhi have arrested two management graduates who had kidnapped a schoolboy for ransom after losing their money in the stock market meltdown.The two men allegedly hired goons and kidnapped a 14-year-old boy from a southern Delhi neighbourhood last week. The boy, Arjun Verma, was kidnapped on November 20 and the kidnappers were arrested by the police on Sunday evening.

The 15-year-old boy, a student of Gyan Bharti school, was kidnapped last week from Saket in south Delhi while he was going to school and was rescued on Sunday, a senior police official said.

Rohit Chopra (24) and Piyush Jain (24), the MBA students, and Bharat Jham (21), the cousin of the victim, allegedly hired three criminals and kidnapped the boy, the official said.

Chopra and Jain had incurred huge losses in the share market and they conspired with Jham, who has some issues with the victim's family, to kidnap the boy and make up for the loses with the ransom money, the official said.

After kidnapping the boy, they allegedly rang up the family and demanded a ransom of Rs80 lakh.

Later, the family got in touch with police, who rescued the boy from the clutches of the kidnappers, the official said.

The three, who were hired for the kidnapping, identified as Dileep Rathore (24), Praveen Kashyap (27) and Ramesh (30), were also arrested.