Eight crore fraud in Chhattisgarh, mastermind arrested from Ranchi

Ranchi. Chhattisgarh Police has arrested Vineet Kumar Pandey, the zonal manager of a company that defrauded crores of people by promising double returns on investment through chain system in Surguja-Ambikapur. It is alleged that a company named Welfare Building Private Limited has defrauded thousands of people of about eight crore rupees by luring them.

According to the complaint lodged in Gandhinagar police station of Surguja, the company’s office was opened in Namnakala of Ambikapur. Several seminars were organized for investors here. The company officials had promised during the seminar that people would get double returns in a very short period in return for investment under the chain system. Under this, money was deposited from thousands of people, but later the company’s office was suddenly closed.

After the case was registered on the complaint of the victims of fraud, the Chhattisgarh Police had formed a Special Investigation Team (SIT) for investigation. The team had received information that a senior officer of the company was hiding in Ranchi. The team raided Kilburn Colony of Hinu and arrested Vineet Kumar Pandey, the zonal manager of Welfare Building.

Ranchi police also assisted in the arrest of the accused. A Chhattisgarh police officer who reached Ranchi said that investigation has revealed that more than eight crore rupees have been extorted from people under this scam. It has been found that Vineet Kumar Pandey had organized a seminar in Ambikapur and motivated investors to invest money in the company. According to the police, he has confessed to the crime during interrogation. Other accused are being searched in this case.