THE FEROZEPUR police have been kept on their toes recently, investigating an alleged chit fund scam linked to Nicer Green, a company that was owned by Ferozepur-based Peepal Singh. Singh was arrested last month. According to the police, the scam may run into several crores.
In a fresh development, the name of Amritpal Singh the personal assistant of Congress MLA Rana Sodhi. Sodhi from Guru-Har-Sahai constituency of Ferozepur district, has cropped up in connection with the case.
“Peepal Singh was arrested on May 14. He was sent in jail two days ago and during his latest interrogation, he named Amritpal as one of his close associates in this business. We have enough proof against Amritpal and efforts are on to trace him,” said DSP Vibohr Kumar. Ferozepur SSP Manvindervir Singh said, “His anticipatory bail was rejected by a local court on June 3.”
- Shah Rukh Khan, Karan Johar, Gauri Khan and Shweta Nanda pose for their own VOGUE cover
- In Parsi genes, new clues on old cultures
- Mulayam Singh Yadav: Not launching any new party
- Nokia 8 with 6GB RAM, 128GB storage launch set for October 20: Report
- Australia announces new space agency to develop domestic space industry
- BJP national executive meeting begins in Delhi; economic issues likely to take centrestage
Heera Sodhi, son of Congress MLA Rana Sodhi, said, “This is a case of sheer political vendetta as Amritpal had no role in this chit fund company. He knew Peepal Singh as a family friend. Otherwise, he was nowhere involved in this company directly or indirectly.”
“We have got over 200 complaints and more are still pouring in. Of these, we have lodged FIR in five cases and are investigating the other cases.”
He added, “The minimum fraud in any complaint is of not less than Rs 5 lakh and the maximum is of over a crore as well. Several complainants had invested Rs 40 lakh or 50 lakh in this company.” The police claimed that Peepal Singh was an employee with Pearl Group – another Chit fund company – before he started his own company, Nicer Green, in 2003-04. He started collecting villagers’ money with a promise that it would be doubled in three-and-a-half years and till 2013, he was giving back the money as per his promise as well. However, he later stopped giving money back, even as the number of investors had grown.