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Man held for cheating people of ₹80.70 lakh on promise of high returns in chit fund
The accused has duped more than 10 such people, but we suspect that he duped many people in this way, says police
A 58-year-old man was arrested by MIDC Bhosari police for allegedly duping people to the tune of ₹80.70 lakh on the pretext of getting them high returns on investing in his chit fund scheme, police said on Sunday.
The accused has been identified as Jacob Gorge, a resident of Bhau Patil road, Bopodi has duped more than 10 investors, they said.
According to police, Gorge targeted the victims who were personally known to him and induced them to invest in his chit fund scheme with assured dividends and returns. After collecting money from the victims, he stopped the scheme and despite repetitive requests from depositors he refused to refund invested amount with assured returns.
An FIR was registered against the accused on Saturday at MIDC Bhosari police station after victims alleged that, Gorge was running a chit fund company and induced the public to invest in his scheme on the assurance of giving good returns with attractive dividends.
HH Panchal, assistant police inspector, said, “From February 2019 to till date the accused lured people to invest in his chit fund on the pretext of high returns. However, he neither paid the principal amount nor the assured interest on it.’
“The accused has duped more than 10 such people, but we suspect that he duped many people in this way,” said Panchal.
Police requested people to come forward and lodged a complaint against him.
