Gurugram, Jan 17 (IANS): The deputy commandant of Border Security Force (BSF) who was arrested by the Gurugram Police has cheated a number of people to the tune of Rs 125 crore, officials said on Sunday.

The police have recovered cash around Rs 14 crore, jewelry worth Rs one crore and seven luxury cars from his house.

The accused Praveen Yadav reportedly suffered loss of Rs 60 lakh in share market. He wanted to repay his debt and for that he started cheating people.

"Yadav allegedly cheated a number of people to the tune of Rs 125 core, on the pretext of providing them tenders, while impersonating himself as an IPS officer, during his posting with NSG at Manesar," said a Gurugram Police officer.

A senior police officer said that so far they have recovered seven luxury cars, jewelry and cash from the house of the accused.

"Praveen Yadav, the deputy commandant of BSF, his wife Mamta Yadav, sister Ritu and one close aide Dinesh were also arrested by the police. When he cheated the innocent persons, he was posted with NSG on deputation. He had transferred whole amount in an account which he opened in the name of NSG. His sister Ritu is manager at Axis Bank. She helped him in opening the account," said a police official.

The police official said that his next posting was in Agartala. But he had collected huge wealth and recently wrote a resignation letter to the concerned department. His resignation has now been accepted.

According to the information, on January 8 one Narayan Das Israni lodged a complaint with the police against Praveen Yadav. In his compliant the victim had alleged that Yadav, who claimed to be an IPS official in NSG office of Manesar, took Rs 65 crore from him on the pretext of providing him different tenders.

The victim was also given fabricated allotment letters of tenders by the accused. The complainant had also mentioned the name of Ritu Yadav in his compliant that she was assisting her brother in the crime.

Seeing the gravity of the matter an SIT was formed by the Gurugram Police to look after the matter. The SIT after conducting a thorough probe arrested the accused and his family members. The police said they have received more complaints against the accused.

"We have taken him on police remand to unearth the whole conspiracy. We have found evidences against him," said the police officer.

Further probe in the matter is underway.