The Chandigarh Police on Saturday booked a man for cheating more than a dozen people of Rs 65 lakh by promising them high returns on their investments in 49 kitties/committees in Small Flats, Dhanas.
Police said that the accused, identified as Manjeet Singh, collected the money between 2012 and 2018. Police said Manjeet was booked under Section 3, 4 of Prize Chits and Money Circulation Scheme (Banning) Act, 1978, as well as other charges of cheating.
The complaint against Manjeet was filed by one Ramji Verma, a resident of Small Flats, Dhanas. Ramji said that he had been investing money in the committees since 2012. According to him, Manjeet had been collecting money from him and other residents after promising them a high rate of return. He added that for winning the trust of the committee members, Manjeet had initially returned the money to some of the investors. Later, he started keeping a major portion of the deposit money with himself and stopped interacting with the investors altogether. On a few occasions, the investors found his house locked. They then filed a complaint with police officers at police headquarters, Sector 9. The matter was forwarded to the Economic Offences Wing (EOW) for investigations and a case was registered at PS Sarangpur.