Manager of ponzi scheme company arrested for cheating

The manager of a company which had allegedly duped around 300 investors to the tune of Rs six crore by luring them to invest into ponzi schemes on the pretext of double profit has been arrested.
Sukhdev Singh alias Sukha, who was wanted in a cheating case and had a cash reward of Rs 20,000 on his head, was arrested by a Crime Branch team from Dwarka Sector-14 Metro Station on November 1 following a tip off, police said today.
"In 2008, one Narender Satoha and his wife Anita had raised a company in the name of Almandine Marketing Pvt Ltd which had its office at Kakrola Mod, Delhi. The accused Sukhdev was the manager and networking head of the company. The company had floated ponzi schemes with the assurance to double the money invested with the company in six months," said Joint Commissioner of Police (Crime) Ravindra Yadav.

Investors were also offered attractive commissions for getting money invested through their chain, he added.
The company attracted more than 300 investors and an amount to the tune of Rs six crore was collected, following which its directors and manager disappeared after locking the office, he said.
A case was registered in this regard at Dwarka North police station with the accused absconding for last two years.

On sustained interrogation, it came to light that Sukhdev was a permanent resident of Kapurthala in Punjab and had dropped out from school after class 8 following which he started his career as a loader at Delhi Airport.

He had started a business of garments at Vikas Puri but he suffered losses in it. He then joined a company called 'Kanak Dhara' which offered multi-level marketing schemes. This company had duped thousands of investors in Rajouri Garden area but he somehow escaped, police said.
Before joining Almandine Marketing Pvt Ltd, he worked at another multi-level marketing company in Tilak Nagar area which also duped hundreds of investors.
"Sukhdev lured investors to deposit their hard-earned money in the company. He along with the directors ran away after collecting huge money. Efforts are being made to arrest his remaining associates," said Yadav.