A former Member of Legislative Assembly (MLA) has been arrested for allegedly cheating more than 800 people of crores of rupees after promising them higher returns on investments.
Ranbir Singh Kharb (47), a former MLA who won from Najafgarh constituency as an Independent in 2003, was arrested near the Tis Hazari courts on Wednesday afternoon. Apparently, he was on his way to surrender.
Kharb had floated a financial company — Jyoti Fair Finance Company — in 1998 and had lured several people to invest in his firm. He had promised high returns but apparently absconded with all the money. A case of cheating has been registered against Kharb and his wife Anita.
“Kharb and his wife Anita were wanted in our case. We had been looking for them since. His wife is yet to be arrested. He has several complaints against him. We would grill him for further details,” said a senior police officer on condition of anonymity, as he is not authorised to speak to the media.
One of the residents claimed that Kharb became an MLA with the money accumulated through fraudulent means.
“When he became an MLA in 2003 he asked us to forget the money invested by us. We then complained to the police a year later and a case was registered,” said Vijay Kumar Dahiya, a local resident.
Police said Kharb, a school dropout joined politics in 2003. Prior to that he worked as a fireman. Police said the accused mainly targeted retired people in the area.
“He lured me into investing money in his firm. If that was not enough, he even roped in my relatives to invest money. As he had been living here for several years we invested the money out of trust,” said Jile Singh, a school teacher.
Kharb or his counsel could not be contacted for their comments.