SAS Nagar, October 10- The Mohali police have arrested three persons of the gang who cheated through the chit fund company by giving the lure of doubling the money. SSP Dr. Sandeep Kumar Garg told a press conference here today that the police have succeeded in busting a gang that earns money by luring innocent people to double their money in a short time. In this regard, by registering a case under Section 406, 420, 120B of IPC and Section 4, 5, 12, 18, 76 of Chit Fund Act 1982 at Jirakpur police station, 3 persons Sham Sharma, resident of Mandi Gobindgarh, (present resident of Mist Society Jirakpur) , Sunil Kumar and Ashwani Kumar (both resident of village Puthiana, police station Nadon, district Hamirpur) resident of Dhanas, Chandigarh have been arrested and 5 persons are pending arrest.
He said that these accused used to cheat the gullible people by showing big dreams over the phone and getting money from them. In the year 2019, they started a scheme in the name of Corvio Cain, who used to cheat the gullible people by encouraging them to double the money in a short period of time with the lure of commission and adding more members (Chain System).
He said that in this matter, in the investigation conducted by the team formed under the leadership of SP Rural Mr. Manpreet Singh and DSP Derabsi Dr. Darpan Ahluwalia, it has come to light that about 198 crores with about 30 to 50 thousand people have been collected by them. More than have been cheated. They also started the scheme in the name of DGT Kine in 2021 and Hype Next Kine in 2022 and A Global Scheme in 2023. He said that 200 leaders were added under this scheme and there were more than 100 investors under each leader. Investors were encouraged by them to invest several lakhs of rupees in crypto currency and were cheated by giving the lure of returning this money at the rate of 200 percent. This amount was invested in different plans like silver, gold, diamond, platinum etc. and it worked like a multilevel marketing scheme.
He said that the mastermind of this scam is a person named Subhash Sharma who was running this chit fund company and is currently abroad. 6 properties of this person have been traced, which after investigation, further action is being taken to confiscate them.