Ujjain: Economic offences wing (EOW) SP arrested a chit fund director for swindling Rs 35 crore of investors.
According to information, SUSK India LTD director Kailash Lodhi(54), son of Suraj Singh Lodhi and a resident of 125, Mahdev Sadan ShivMandir Road, Maksi district Shajapur, was arrested under Section 420 and 120 (B) of the Indian Penal Code in case number 27/2015 by the EOW unit of police.
Criminal cases have already been filed against the accused with Mohan Nagar police station in Durg, Telibanda police station of Raipur and Baloda Bazaar police station of Chhattisgarh. The company had its regional offices in Bhopal, Rewa and Ganj Basoda. Accused Lodhi has already admitted to have received Rs 35 crore from investors on the promise of lucrative return in form of land.
According to reports, the accused used investors’ money to set up 15 companies. He also financed a few films like ‘Birju the Villain’ and ‘Mehidpur Zero Kilometre’. He also purchased land in the name of his wife Bhagwanti Bai in Pilukhedi.
Till 1997, Lodhi used to run a tea stall. He worked with a few chit fund companies between. 1997 and 2009. Later, he formed USK India LTD and SUSK India LTD.
The EOW team is collecting information about his assets so that police may seek court permission for its seizure. Complaints against the accused have been received from Chhattisgarh, Maharashtra, Odisha, Andhra Pradesh and Uttar Pradesh.
Investigative officer Atmaram Yadav, inspector Siyaram Singh, ASIs Ashik Rao, Laksminarayan Meena, constable Vishal, R Mohan Pal, Firoz and Pankaj Dehaliya of Economic Offences Wing Ujjain unit played a vital role during the investigation of all such cases.
FROM TEA VENDOR TO DIRECTOR
The accused formed several companies like:
- USK Real State India Ltd
- SUSK India Limited
- Shining Star Film
- Shining Star Infrastate Ltd
- SUSK Property Ventures Ltd
- Shivay Agro Producer India Ltd
- Surya Dairy and Products
- Shining Soap and Chemical Private Limited
- Pest Control Indico Pvt Ltd
- SK Buildcom and Construction Limited
- SUSK Marketing Limited
- SUSK Arestake Limited
- SUSK Insurance Agent Ltd
- ESSD Hire purchase Ltd
EOW UNIT FILES FOUR MORE CASES:
- Against directors of GN Dairy, New Delhi, Satnam Singh, Gurpeet Singh, Bhola Singh, Hardeep Singh, Rajendra Jadoun and Baljeet Singh under Sections 406, 420 and 120 (B) of IPC under Case Number 48/2016.
- Directors of RBX Agriform Producer Company under Case Number 43/2016 under sections 406,420 and 120 (B) and directors of Mankamneshwar Real Infra Ltd under the same section under Case Number 57/2016 were also booked.