The Telegraph
Saturday , June 7 , 2014
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Chit fund boss, 2 aides arrested in Dhanbad

A special team of Dhanbad police on Friday arrested three officials of a non-banking financial company that allegedly duped hundreds of unsuspecting depositors and swindled crores of rupees.

Managing director of a Dhanbad-base Everlight Realcon Infrastructure Limited (ERIL) Prabir Dey and two other officials were nabbed from the firmís branch office at Tundi and taken to superintendent of police (SP) Hemant Toppoís office for interrogations.

ďA depositor approached Saradhela thana around two month ago. On the basis of his complaint, we initiated action and arrested the three from Tundi. But today, thousands of people came to my office and claimed that they had also been duped,Ē the SP said.

Toppo added they would investigate all allegations.

The three men have been forwarded to the Dhanbad jail.

According to sources, an FIR was lodged against the chit fund firm operating from a branch office at Saraidhela after it failed to return a depositorís money in March.

With the police swinging into action, the company officials shut its Saraidhela office and disappeared.

Even as the police were trying to crack down on the firm, it opened a new branch at Tundi and started luring people by promising attractive returns on deposits. Acting on a tip-off, police raided the Tundi office and arrested the three on Friday morning.

As the news of the arrests spread, hundreds of villagers, including farmers and labourers, thronged the SPís office with receipts of money they invested in the company.

The chit fund firm used to offer various schemes for depositing money on daily, weekly and monthly basis. It had promised very high rate of interests.

However, it failed to return money on maturity.

A senior police officer said ERIL had offices in several blocks of Dhanbad, including Tundi, Nirsa, Govindpur etc. These apart, the company has several branches in Asonsol, Rampurhat and Burdwan of neighbouring Bengal.

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