2 offices of chit fund company sealed

Tribune News Service

Amritsar, May 24

A joint team of the Barnala and Amritsar police today sealed two offices of the infamous chit fund scam company Crown Credit Cooperative Society at the Nehru Shopping Complex and the Lawrence Road area this afternoon.

Victims in the case claimed that it was a mere eyewash as the police were reluctant to arrest the accused and they were not acting against the nabbed secretary of the company.

ASI Ranjit Singh from the Barnala police said there were four separate cases against the society in which 42 complainants claimed a fraud of Rs 6.97 crore. The Amritsar police had arrested Sandip Kaur, accomplice of Jagjit Singh, Director, Crown Credit Cooperative Society, some days ago. The Barnala police had taken Sandip Kaur on production warrant. Following the information revealed by Sandip Kaur during investigation, a Barnala police team reached the city and sealed the offices.

The director of the company used to print a monthly magazine, Punjabi Screen, and run a recording studio in four rented shops at the Nehru Complex. The society did not pay the rent to the Improvement Trust and became a defaulter seven months ago.

The police got permission from the Deputy Commissioner to seal the shops and officials of the Trust assisted the police in the operation.

Investigating officer ASI Arjun Kumar of the Sultanwind Police station said: “Separate cases by various complainants have been registered. We are expecting that the firm must have some documents in their offices. Hence, we have sealed them. Now, we will request the court to give permission to examine the documents and other records kept there.”

The victims alleged that the police have failed to procure concrete evidences and were taking delayed action.

Ashok Kumar, a victim, said: “Most of the accused, including the key man Jagjit Singh, fled abroad. Several others are making efforts to leave the country. The police are still searching for them.”

Harpreet Singh, another victim said, “There are around 25 fraud victims from the district. We are estimating that the accused fleeced around Rs 1,200 crore from hundreds of victims in the state. Jagjit, Sangeeta Sharma, Lucky Gehal and Jaswinder Singh are still absconding.”

The police from two districts came to seal the shops but they did not have funds to buy the locks to seal the offices. They requested the Improvement Trust officials to buy the same. However, they also shown their helplessness in buying the locks as there was no provision for same.

Later, a few victims bought the locks.

ASI Ranjit Singh said, “We did not even get a penny from the department for such expenses. However, we have to make the arrangements.”