Kaithal (Haryana): In a shocking case of financial fraud, two individuals from Amritsar, Punjab, have been arrested for conning investors out of ₹24 lakhs under the guise of offering recurring deposit (RD) and fixed deposit (FD) schemes. The investigation, led by SI Sanjay Kumar of the Civil Lines police station, uncovered the fraudulent activities of Malook Singh and Kuldeep Singh.
Details of the Fraud
The complaint was filed by Harikesh Bansal, a resident of Old Factory, Narwana. According to his statement, Malook Singh Uppal, along with his son Gurpreet Singh Uppal and Harpreet, established
Several companies
Sarvottam Vikas Society Limited, Sarvottam Hi-Tech Infra Limited, and Sarvottam Self Growth Fund Limited. These companies promoted themselves as legitimate entities offering RD, FD, and booking for plots/flats. Persuaded by the fraudsters, Bansal collaborated with them, bringing in others, including Ramchandra and Hardwari from village Sajuma.
Escalating Trust and Betrayal
The trio managed to secure RD and FD agreements from approximately 60 individuals, amassing a total of ₹24 lakhs. However, as the maturity date of the investments approached, the fraudsters shut down their companies and fled, leaving the investors without any recourse. They also closed their office in Kaithal, disappearing with the funds.
Investigation and Arrests
The police have identified additional accomplices in this scam, including Shashi Bhushan, Sukwant Singh, Dharmendra Kaur, Mandeep Kaur, Sanjeev Kumar, Kuldeep Singh, Karnveer, Saurabh Mahajan, and Jagatjeet Singh. A case has been registered at the Civil Lines police station, and the court has granted three days of police remand for the arrested suspects to facilitate further investigations.
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