6 Held In ₹1.75 Crore Investment Fraud Probe, ₹66.50 Lakh Assets Seized In MP’s Mandla
Bhopal (Madhya Pradesh): Mandla police have arrested six persons and seized valuables worth Rs 66.50 lakh in connection with cheating people by promising to double their investments, officials said on Sunday. A complaint was filed with the police that investors had been cheated after they were told that their investments would be doubled in a short period. The chit fund company officials neither…
In Madhya Pradesh's Mandla, six individuals have been arrested and assets worth Rs 66.50 lakh seized as part of an investigation into a fraudulent investment scheme, officials disclosed on Sunday. A complaint was lodged alleging that investors were promised double returns on their investments, only for them to receive neither the principal nor the accrued amounts.
The chit fund company responsible did not adhere to this promise. To probe the case, Mandla police established a Special Investigation Team (SIT) which gathered evidence and conducted searches across locations like Nagpur, Gondia, Mumbai, and Balaghat, leading to the arrest of the six suspects in Gondia, Balaghat, and Mandla. One of the suspects had a pending case in Nagpur, Maharashtra, but is currently at large on bail.
The police recovered cash, vehicles, and personal items amounting to approximately Rs 66.50 lakh from the suspects.
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