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CBI files supplementary charge sheet in ponzi scam

Press Trust of India  |  New Delhi 

The CBI has filed a supplementary charge sheet against Green India group in Bhubaneswar for allegedly duping people of over Rs 69 crore through a ponzi scheme, officials said here Wednesday.

In the charge sheet filed before Bhubaneswar special court, the CBI has charged private individuals Pradeep Kumar Singh, Jitendra Kumar Mishra and companies Green India Properties Private Limited, Green India Infra Projects Limited, Green India Retailing Private Limited and Green India Multi State Member's Credit Co-operative Society Limited for criminal conspiracy, cheating and provisions of Prize Chits and Money Circulation Schemes (Banning) Act, 1978, they said.

During the probe, CBI found that the accused persons had conspired and allegedly cheated investors to the tune of Rs 69.43 crore between 2009 and 2013 by collecting deposits from the public on the promises of giving them back high returns, they said.

The FIR had alleged that the company took money in the name of providing land but neither the company provided that nor refunded the money.

Earlier, a charge sheet was filed on December 2, 2014.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 23 2019. 20:30 IST