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Cong Bhucho MLA booked for chit fund fraud in MP
Kotbhai is MLA from Bhucho Mandi, a municipal council in Bhatinda in Punjab.
A cheating case was registered against a Congress MLA from Punjab and two others after some residents of Jabalpur in Madhya Pradesh alleged irregularities in a chit fund scheme, police said on Friday.
These investors claimed they had been cheated of ₹96 lakh after which a case was registered against Congress MLA Pritam Singh Kotbhai, who is director of the chit fund firm, and managers Rakesh and Kamal Kishore Sharma, Madan Mahal police station in-charge Sandeep Ayachi said.
Kotbhai is MLA from Bhucho Mandi, a municipal council in Bhatinda in Punjab.
The irregularities at Kotbhai’s GCA Private Limited Company, which started operating in Jabalpur in 2006, pertain to the period between 2008 and 18, Ayachi said.
“When people reached the chit fund office to get returns on their investments on maturity, they were told the head office would clear the amounts. After they could not contact the firm and its functionaries over a long period of time, these investors approached police,” he said.
A case has been registered under Sections 420, 406, 409 and 34 of the Indian Penal Code (IPC) against the three and further probe was underway, he informed.
No arrests have been made so far, he added.
Denying charges, Kotbhai said that case against him is politically motivated as some elements are working to damage him politically. The MLA said he is not linked to firm GCA Private Limited mentioned in the case in any way and said he will fight a legal battle.
