ED arrests one in ponzi scam

| | Ranchi
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ED arrests one in ponzi scam

Monday, 21 June 2021 | PNS | Ranchi

The Enforcement Directorate (ED) on Saturday arrested Hemant Kumar Sinha from his residence in Howrah in West Bengal who was evading arrest warrant issued by the special PMLA court of Ranchi in a chit-fund case.

He was taken to Ranchi on Sunday morning where he was produced before the special PMLA court that forwarded him to 15 days of judicial custody.  In March last year the ED had filed chargesheet against him and other accused for organizing a chit fund scam for which they floated a company M.S.S. Ayurvedic Healthcare & Trust.

ED initiated investigations under PMLA on the basis of FIRs and chargesheets filed by Ranchi police against four accused persons and the company under sections 120B, 406, 420,467,468, and 471 of IPC.

The accused persons were running a ponzy scheme wherein they were collecting Rs 3,000 from each

individual on the pretext of returning four times of the said month within three months.  

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