Jharkhand chit fund co chief held from Assam

A former employee of a public sector unit Uranium Corporation of India Limited (UCIL) was arrested on the charge of duping people to the tune of crores of rupees through his chit fund company, police said today.
Kamal Kumar Singh, who has allegedly duped several UCIL employees amd others in and around the Uranium township of Jadugora in Jharkhand, was taken into custody from a posh area of Guwahati on Sunday, Senior Superintendent of Police Amol V Homkar said.
Altogether seven cases had been registered against Singh and six others in Jadugora and Parsudih police stations.
Singh's company had launched a scheme that assured investors to double the amount and pay Rs 5,000 interest per month for every Rs 1 lakh.

Singh, who had been evading arrest for two years, allegedly duped the investors, mostly from Jadugora and Parsudih in the outskirt of Jamshedpur, and fled.
The total amount duped by the company could not be evaluated as yet as investigation was still on but the affected families claimed it was to the tune of Rs 500 crore to 1,500 crore.
After fleeing from Jadugora, Singh had stayed at Dhanbad, Noida, Jammu and finally Guwahati, from where he was planning to go back to Noida, but got arrested.
All the police personnel involved in the arrest of Singh would be awarded, he announced.