Chit fund ‘scam’: Nine booked on fraud charges

AMRITSAR: Nine persons including two women have been booked for allegedly committing fraud with people through a ‘fake’ chit fund company, said the police on Saturday.

The booked have been identified as Sukhchain Singh, Sukhwinder Singh, Mahabir Singh, Kuldeep Singh, Gursewak Singh, Narinder Singh, Kuldeep Singh, Sararbjit Kaur and Paramjit Kaur.

All the family members belong to Ferozepur district. The accused have offices at different places in Punjab and other neighbouring states.

As many as 20 people from Amritsar district had lodged a complaint against the accused persons in different police stations.

Based on the statement of Daljit Singh and Nishan Singh, residents of Othian village, two cases have been registered against them. The case has been under Sections 420 (cheating and dishonestly inducing delivery of property) and 120 (criminal conspiracy) of the Indian Penal Code at Rajasansi Police Station.

A case has also been registered at Ajnala Police Station on the statement of one Major Singh of Panj Garayan village.

As per the information, the accused have allegedly committed a fraud to the tune of ₹90 lakh.

The accused used to lure the people in different insurance and finance policies, citing multiple benefits.

The accused appointed employees who visited villages to promote the policies and collect money from the people.

After gaining no profit from the policies, the victims lodged complaints to their office, but the employees used to make different excuses.

After a few days, the victims found the office locked.

On getting the complaint, the cops led by SSP (Amritsar Rural) Parampal Singh investigated the matter and booked nine person.

The police officials have also launched a manhunt to arrest the accused who are still at large.