NEW DELHI: Two persons have been arrested by the Economic Offences Wing (EOW) of the Crime Branch on charges of cheating people of lakhs of rupees on the pretext of giving them handsome returns against investments in their chit fund company.
Kamlesh Keswani, a resident of Old Rajinder Nagar in Central Delhi, recently lodged a complaint with the EOW stating that around five years ago he came into contact with Naresh Gupta and Avdesh Aggarwal, who ran Bundella Chit Fund Private Limited. The duo offered him an interest of 2-3 per cent a month on investments in the company.
In the beginning, the accused made regular payments of interest against the money invested by Mr. Keswani. But they did not give him the due amount of Rs. 3.8 lakhs even after he deposited all the instalments about a year ago. Mr. Keswani repeatedly asked Avdesh to make the payments, at which he promised that his money would be returned in instalments of Rs. 25,000 per month. But Mr. Keswani did not receive even one instalment.
Acting on the complaint, the police registered a case and under the supervision of Assistant Commissioner of Police Vijay Malik tracked down the accused. During interrogation they allegedly confessed to their involvement and disclosed that they had cheated several people on the pretext of handsome returns against chit fund investments. At their instance, the police recovered several documents from a Chittaranjan Park building from where they had been operating.
According to Deputy Commissioner of Police Prabhakar, Naresh and Avdesh are from Hamirpur in Uttar Pradesh. As partners they had been running a business of film distribution for 19 years. In 1988 they set up the chit fund company from a Bhagirath Place office.
According to the police, investigations so far have revealed that there were about 150 members in the chit fund at one time and they were cheated of more than Rs. 1 crore. The police are trying to find out the other victims.