Four arrested for duping nearly 1,000 investors of Rs 82 lakh

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Express news service

Posted online: Sunday , March 09, 2008 at 01:50:14
Updated: Sunday , March 09, 2008 at 02:11:13

Kolkata, March 8 Four persons, including the general manager of a Nainital-based private financial company, were arrested from separate places on Friday night on charges of fraud. They had allegedly cheated Rs 82 lakh from nearly 1,000 people who had invested in a chit fund operated by the company during 2001 to 04.

The Detective Department (DD) of the Kolkata police arrested them from their residences, said Deputy Commissioner (DD) Jawed Shamim.

According to the police, one of the arrested was a resident of Konnagar, Hooghly. In 2000, he had opened an office at Suresh Chandra Banerjee Road near Beliaghata after becoming an agent of the company.

Two others from Dhakuria and Howrah worked at the agency as managing director and development officer respectively. The fourth accused was a resident of Karbala Road and also the general manager of company.

During 2001 to 2004, the four collected at least Rs 82 lakh from nearly 1,000 people after luring them with attractive returns against their investments. Later, they allegedly forfeited the entire amount. When the investors asked them to return their money, the accused refused to do so.

In 2005, Dipak Chowdhury, a resident of Baruipur in South 24 Parganas, who had also invested money in the company, lodged a complaint at Beliaghata police station alleging that the company had cheated him. An enquiry was ordered and the case was handed over to the Detective Department.

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