2 months on, cheating case registered in chit fund scam

  |   07 November, 2014   |   896   |   3980

BATHINDA: After two months of investigation, police have registered a cheating case against directors of chit firm Live India trading following a complaint from Amarpura basti resident, Lucky. In August, he had complained that the company duped him of Rs 3 lakh by promising him lucrative interest rate on his investment.



Lucky said that Live India trading had duped dozens of people to the tune of nearly Rs 5 crore with the company MD Bhupinder Gupta and director Sri Kant being the main culprits. He said that the company lured people to invest Rs 1 lakh in the chit fund and promised to return 10% interest for 12 months, and return the principal amount at the end of one year. Many small investors had put their money in the company.