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Thursday, 10 September 2020

Rs 50-cr investment scam busted, 2 held

Tribune News Service

Ambala, September 9

With the arrest of two persons and another accused joining probe, the district police today claimed to have busted a multi-crore investment scam in which at least 300 persons had been duped of over Rs 50 crore on the pretext of handsome returns.

"While Rasal Singh and Sunil Kumar Dewan of Jagadhari in Yamunanagar have been arrested, Randhir Singh of Naraingarh in Ambala has joined the police probe as per the court order," Naraingarh SHO Gurmail Singh said.

He said Dewan had been taken into police custody from the local court till September 14, while Rasal had been sent to judicial remand.

The scam surfaced in February when the police had booked six fraudsters, who had floated a cooperative society to offer up to 12 per cent interest to the depositors but did not even return the principal amount.

Three other accused — Kuldeep and Vinod Sharma from Jagadhari and Pawan Kumar of Naraingarh — were yet to be arrested in a case of cheating, criminal breach of trust and criminal conspiracy.

Nambardar Sadhu Singh of Naraingarh, a victim, had approached the police. He said the fraudsters had invested the money of the depositors in their own and relatives' names by acquiring various properties besides setting up drug manufacturing units in Kala Amb and Paonta Sahib.

"We've registered a case under Sections 406, 420 and 120B IPC against all six accused and some relevant record had been recovered so far.Meanwhile, the hunt for the remaining three accused is still on," the SHO added.



from The Tribune https://ift.tt/35hvFGy

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