Absconding fraud Chit Fund director arrested from Shahdol

Central Chronicle News
Raipur, Dec 06: According to police, six members of a family named Pushpendra Singh Baghel, Pushpanjali Baghel, Ranvijay Singh Baghel, Dhirendra Singh Baghel, Shahendra Singh Baghel and Mrigendra Singh Baghel launched a Chit Fund company named Sai Prakash Property Development having their office in Maruti Business Park. The company was started in 2015 and the frauds have reportedly siphoned Rs 2 crore from scores of investors.
Suddenly the fraud directors winded up there business and fled from the city without repaying a single investor. Failing to trace any of the absconding frauds, a complaint was lodged in Azad Chowk police station following which an offence was registered under Section 420 IPC and Section 4, 5 of Chhattisgarh Chit Fund Act. With police finding it tough to trace the absconders, SSP Raipur Prashant Agrawal directed Raipur Police Cyber Cell to nab all the accused. This effort resulted in arresting one of the directors named Mrigendra Singh Baghel from his village in Shahdol district of Madhya Pradesh. Further efforts are underway to arrest the remaining absconders who are reportedly from the same family.

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