Promised double returns, former DSP loses Rs 16 lakh
Faridkot, June 27
A Kotkapura-based retired DSP of the Punjab Police has lost Rs 16 lakh to an age-old con trick called ‘doubling’. DSP (retd) Darshan Singh fell prey to the trap days after he got his retirement benefits.
As per a complaint filed with the police, after his retirement from service in 2018, he got an offer that promised doubling return in three months.
Fraud firm
I had invested the money on the suggestion of a family friend. He had convinced me that the company was earning huge profits
After investing Rs 16 lakh of his retirement benefits, the DSP also made his two aides invest Rs 7.50 lakh in the company, named Hum Tum India Ltd, a multi-trade company based in Ludhiana.
A case under Sections 409 and 420 of the IPC has been registered against Jaswinder Singh, MD of the company. He is yet to be arrested.
The former DSP said he had invested the money on the suggestion of a family friend, Bohar Singh. “He had convinced me that the company was earning huge profits by selling domestic items on loan to middle-class families,” he said. He claimed that he had invested the amount through four cheques and Rs 2 lakh in cash. He said many residents of Faridkot had invested over Rs 1.5 crore in the company. “We will probe the case thoroughly,” said a senior police officer. — TNS
