Man held for duping people of crores in fraud chit funds
28 Aug 2014 4:57 AM IST
A 35-year-old man, who duped several investors by luring them to invest into fraudulent chit fund companies, was arrested from the Tikri Border in Delhi, police said on Tuesday.
Naveen Singh (35), along with some friends and family members, formed a chit fund company called NCR Multi-National at Rohini in the outer fringes of Delhi, in the year 2013. They lured a large number of investors to invest in the company, by promising them very high returns on investment, infomred a senior police official. He further said, once a large amount of money was deposited by investors, Naveen and his associates would run away from Delhi and start another such company.
Naveen Singh (35), along with some friends and family members, formed a chit fund company called NCR Multi-National at Rohini in the outer fringes of Delhi, in the year 2013. They lured a large number of investors to invest in the company, by promising them very high returns on investment, infomred a senior police official. He further said, once a large amount of money was deposited by investors, Naveen and his associates would run away from Delhi and start another such company.
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