Wednesday, November 5, 2014

Manager of ponzi scheme company arrested for cheating

2:46 AM Posted by Juan Samsel No comments
The manager of a company which had allegedly duped around 300 investors to the tune of Rs six crore by luring them to invest into ponzi schemes on the pretext of double profit has been arrested.

Sukhdev Singh alias Sukha, who was wanted in a cheating case and had a cash reward of Rs 20,000 on his head, was arrested by a Crime Branch team from Dwarka Sector-14 Metro Station on November 1 following a tip off, police said today.

"In 2008, one Narender Satoha and his wife Anita had raised a company in the name of Almandine Marketing Pvt Ltd which had its office at Kakrola Mod, Delhi. The accused Sukhdev was the manager and networking head of the company. The company had floated ponzi schemes with the assurance to double the money invested with the company in six months," said Joint Commissioner of Police (Crime) Ravindra Yadav.

Read More, Visit Source: Business Standard News
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