Chandigarh, December 26: The Punjab Police today arrested six key accused in the Crown chit fund scam and aborted their attempt to dupe more investors through a recently launched company called Zuflo Coin.
Naunihal Singh, IG (Crime) and Hardyal Mann AIG (Crime) said the accused belonging to Barnala town and Chaajli and Lehal Kotra villages in Sangrur were operating as agents for Jaswinder Kaler, who was in turn working for absconding Crown chit fund company managing director Jagjit Singh.
“These accused were luring people to invest in Zuflo Coin,” they said. The accused, led by Jagjit Singh and London-based CEO of the company Mohsin Jameel, had floated Zuflo Coin currency a few months ago. The company operated with the digital currency, bitcoin. They allegedly lured old investors of Crown companies by promising to return their lost investment with interest.
Zuflo Coin is the eighth such venture by the Crown management. After six companies were banned, the seventh, Crown Coin, was floated in July. Chit fund companies are banned under the Money Laundering Act of Punjab.
However, the Special Investigation Team (SIT) – along with the Crown Chit Fund Sangharsh Committee led by Jai Kumar — exposed the moves of the accused and saved many gullible investors from falling into the trap.
Those arrested today were identified as Bhagwant Singh of Lehal Kotra, Beant Singh from Chaajli, Balbir Singh and Mithu Singh from Butal Kalan and Barnala agents Pardeep Khurmi and Lalit Kumar. The agents are accused of promoting Zuflo Coin on behalf of absconding accused Jaswinder Kaler, who was in touch with Jagjit Singh.
Jai Kumar said these accused were exchanging emails with Jagjit Singh.
The recently reconstituted SIT, headed by Naunihal Singh, has arrested eight persons in a week. Earlier, it nabbed Ram Singh Sidhu, producer of Punjabi film ‘Mitti Na Pharol Jogiya’, and Harinder Singh Kaka for their alleged involvement in the scam.
Kulwant Singh, SHO (Crime Branch), said questioning of Ram Singh and Kaka revealed that they had made people invest Rs 8 crore and Rs 3.5 crore, respectively.
News Source: http://www.tribuneindia.com
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