UP Police files case against TMC lawmaker KD Singh for duping investors

The Uttar Pradesh Police has registered a case against Trinamool Congress lawmaker KD Singh and six of his close aides for allegedly cheating investors, officials said on Saturday.

Singh, who had set up Alchemist Group of companies, is a member of the Rajya Sabha.

The case was registered on Friday against Singh and office bearers of the Alchemist Infra Reality Limited and Alchemist Infra Township Limited, Circle Officer (Kotwali) Rajesh Pandey said.

The case has been registered for cheating people by promising to make their investments many folds or provide land or plots, he said.

"The case has been lodged after an inquiry confirmed that there is evidence of financial bungling," Pandey said.

The FIR names Satyendra Kumar Singh, Sucheta Khemka, Jaiprakash Singh, Brajmohan Mahajan, Chatrasal alias Narendra Singh and Nand Kishore Singh, the officer said.

The case has been registered on the basis of a complaint filed by an investor, Pawan Mishra, a resident of Shyam Nagar, at the Kotwali police station here under various sections of the IPC.

The FIR stated that Singh had set up offices of Alchemist Infra Reality Limited and Alchemist Infra Township Limited in the city's posh Mall Road area in 2010 and lured investors by promising to make their investment manifold.

"The company had also promised to provide land or flats to the investors in accordance to their investment," the FIR said.

The Alchemist offices were allegedly closed down about a year back just before the companies were to return the money to the investors, according to the FIR.

The complainant alleged that he has invested several lakhs of rupees in Singh's companies.

The circle officer said that more than 100 investors have already contacted and complained to him of being cheated.

He, however, claimed that the police couldnt assess how large the alleged fraud is.

Despite repeated efforts, Singh could not be contacted for comments.