₹400crore scam: Main accused surrenders in court

AMRITSAR: The main accused in a multi-crore investment scam, Parveen Kumar Tandon, surrendered before the Illaqua magistrate court here.

Tandon and his family were booked in a case, registered in December, 2016. The case has been registered under Sections 420, 467, 468, 471, 120-B of the IPC at Chheherta police station for cheating people on the pretext of selling plots to investors without any ownership and permission from the competent authorities.

One more case was registered on July 10, 2016 and the police made no arrest despite the suspects’ bail applications being rejected by the Punjab and Haryana High Court.

During investigation, the police found that the people were duped of ₹2 crore by some illegal firms. The police had nominated Ramesh Kumar, owner of RK Investment, and his family members in the first FIR. Around 46 persons had lodged a complaint of fraud against Tandon who was partner in these firms, and his family members.

Punjab Human Rights Organisation (PHRO), an NGO, also investigated the cases and found the investment scam was to the tune of ₹400 crore.

Notably, the victims had also approached the Punjab and Haryana high court for an inquiry from a special investigating team.

The anticipatory bail application of Tandon was dismissed by local court but Punjab and Haryana high court granted bail to Jyoti Tandon, wife of Parveen Tandon.