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Haryana Police arrest multi-crore chit fund scam accused from Gujarat

Haryana Police has arrested Jagjit Singh, the managing director of a chit fund company, who is accused of the multi-crore Crown chit fund scam from Gujarat.

Haryana Police arrest multi-crore chit fund scam accused from Gujarat

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Haryana Police has arrested Jagjit Singh, the managing director of a chit fund company, who is accused of the multi-crore Crown chit fund scam from Gujarat.

A spokesperson of Haryana Police on Tuesday said the accused, who is absconding for the last five years, has been identified as Jagjit Singh alias Ladi, a resident of Sant Vihar Colony, Amritsar.

Besides Fatehabad district, cases of fraud are also registered against the accused in various districts of Punjab including Rupnagar, Barnala, Tapan Mandi, Bathinda, Malerkotla, Sangrur, Mohali, etc. He was absconding after bail from the court in a case registered in Punjab.

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The spokesperson said after getting complaints from people from dozens of villages on 26 January 2017 in Fatehabad district, police registered a case against Sandeep Singla and his son Saurabh Singla, both residents of Bhatia Nagar Tohana, Avtar Singh resident of Bassi Pathana Punjab, Jagjit Singh alias Ladi of Amritsar and Jaswinder of Barnala.

They were accused of duping people with crores of rupees by luring them to get hefty interest by investing money in their companies and later absconded. The Credit Crown Co-operative Society (CCCS) lured people by promising to double their money within a year.

In this case, the police had already arrested Saurabh, Avtar Singh, and Sandeep Singla on charges of embezzlement and fraud, while the company’s MD Jagjit Singh alias Ladi was absconding. The arrested accused was produced in the court which sent him a 10-day police remand for intensive interrogation and recovery, the spokesperson said.

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