Last Updated on 18/08/2024 by wccexam Desk
In Unnao, Uttar Pradesh, a chit fund company, by luring people with the promise of doubling their money, fled with crores of rupees of hundreds of people. Some had invested money by mortgaging their jewellery, some by taking loans, and some had deposited money of their friends and relatives. When the money was not returned, people created a ruckus at the office of the chit fund company. The police reached the spot and pacified the people. The operator of the chit fund company squandered people’s hard earned money on his luxuries. The money was spent on expensive cars and a luxurious life.
Actually, Anwaruddin alias Raju, who lives in Ganjmuradabad, had started a chit fund company along with his two sons Arbaaz alias Kashan and Adnan. It was named Arbaaz Trading and Share Market. He had also included relatives in it. It is alleged that Anwaruddin had promised to double people’s money in the chit fund company and get 15 to 20 percent of the money every month.
People say that for a few days, they returned money to some people, but after that they stopped giving money completely. When they did not get their money, people started visiting the company. After a few days, the company absconded, so people started creating a ruckus outside the houses of the people of the chit fund company. Some people say that the father and son together spent their hard-earned money on debauchery and luxurious life. The people of the chit fund company have access to politicians and ministers.
Both the chit fund company operators Arbaaz alias Kashan and Adnan used to travel with a convoy of luxury cars. They had status like celebrities. Their convoy used to run from Lucknow to Delhi. Even the hoardings of politicians on the intersections in Lucknow had Arbaaz alias Kashan’s photo. A Fortuner also had a judge’s board above the number plate. They had influence like any celebrity or industrialist.
They used to spend 500-rupee notes in parties. They used to go to hotels from Lucknow to Taj Mahal to party in hotels. The agents working with them were also very rich. Foreign girls also used to come to their parties in hotels. Many of their videos have also surfaced.
People who invested in the chit fund company are now making rounds to get their hard earned money back, but they are neither getting their money nor any assurance. Many women deposited money in the chit fund company by mortgaging their jewellery. Some people deposited crores of rupees borrowed from their friends and relatives, with which the accused absconded. Many people had deposited crores of rupees of their friends and many had deposited more than Rs 50 lakh.
This case has been going on for about four-five months. Many people had filed cases earlier too, but they got nothing. The police kept giving assurances of action. When people lost their patience, on August 14, hundreds of people started a ruckus at the house of the operator of the chit fund company. The police reached on information and pacified the people. The police registered a case against the accused on the basis of the complaint.
Syed Mohammad Shahid reached there with his friends whose money he had invested in the chit fund company. All these people reached Bangarmau police station and lodged a complaint against the operators of the chit fund company. Syed Mohammad Shahid said that he had invested 65.5 lakh rupees of his friends in Arbaaz Enterprises chit fund company on the advice of Kashan and Adnan. On their advice, his friend had also taken a loan and invested money in the chit fund company and share trading company. That company has absconded. We don’t know how to get the money and from where. We are all very worried.
CO Bangarmau Arvind Chaurasia told on phone that according to the complaints received so far, about 10 crore rupees of people were invested in this chit fund company. A case has been registered on the basis of the complaint. So far seven cases have been registered against the operator of the chit fund company. Three people have been arrested and sent to jail in this case. The matter is being investigated.
Source (PTI) (NDTV) (HINDUSTANTIMES)