Bhopal (Madhya Pradesh): Mandla police have arrested six persons and seized valuables worth Rs 66.50 lakh in connection with cheating people by promising to double their investments, officials said on Sunday.
A complaint was filed with the police that investors had been cheated after they were told that their investments would be doubled in a short period.
The chit fund company officials neither paid the principal amount nor the accumulated amount to the investors. The Mandla police formed an SIT to investigate the case.
The teams gathered information and conducted raids at potential hideouts in various locations, including Nagpur, Gondia, Mumbai and Balaghat. As a result, six suspects were arrested from Gondia, Balaghat and Mandla.
The police came to know that one of the suspects had a case registered at Nandanvan police station in Nagpur district, Maharashtra. It has been ascertained that the suspect is currently out on bail in that matter.
Police have seized assets worth approximately Rs 66.50 lakh from the arrested suspects, including Rs 32 lakh in cash, three scooters, two cars and a mobile phone.
