Two held for duping investors of crores

Tribune News Service
Ambala, February 3

The Ambala police have arrested two men in connection with a cheating case registered at the Ambala Cantonment police station in January last year. The accused have been identified as Ravinder Singh, a resident of Amritsar, and Khajan Singh, a resident of Gurdaspur.

On January 16 last year, Kamaljeet Singh, a resident of Yamunanagar, along with some other agents, had made a complaint at the Ambala Cantonment police station alleging that Kim Future Vision Services Limited director Umeshwar, Kanchan Kumar, Lekhraj, Kim Infrastructure and Developers Limited director Ravinder Singh, Sanjeeb Sikhdar, Nectar Commercial Estates Limited director Jagmohan Singh, Gagandeep Singh, Mukhtiyar Singh, Help Finance Limited, Mahashakti Finance, Investment Limited Amritsar director Kanwaljeet Singh and Kim Future Vision Services Limited branch manager Anil Sharma had duped them.

The complainant said: “Kim Future Vision Services Limited worked as a finance company. Kim Future’s director Ravinder Singh called us around 10 years ago to be an agent in his company and told about his other companies. He had assured that the financial condition of the company is strong and he also told us about the commission for the agents under different investment plants.”

The complainant said they had been working since 2017 and people had invested in the company on their trust. The company also kept giving returns to the people as per the plans but for the last six months, the company had stopped giving returns to the investors and commission to them. Branch offices in Ambala and Yamunanagar were also closed.

The complainant said: “The investors have been regularly calling us and asking for the money”.

The complainant alleged that the accused had made a huge property by collecting money from investors and the company has nearly 150 branches in the country.

The complainant had claimed that they had apprehension that the company had duped thousands of people of crores of rupees.

A case was registered under Sections 406, 420, and 120B of the Indian Penal Code at the Ambala Cantonment police station.

The accused were produced before a court, which sent them to seven-day police remand.