Ex-Cong MLA booked for duping Pearls group MD of Rs 3.5 crore

A case has been registered against former Congress MLA Pritam Singh Kotbhai and five others for allegedly duping the chief of Pearl Group, the main accused in the multi-crore chit fund scam. Ludhiana Police Commissioner Mandeep Singh Sidhu said that three persons -- Jeevan Singh, Dharamveer Singh and Dalip Singh Tripathi -- have been arrested in this connection, while three others, including Kotbhai, are absconding. Kotbhai, a former MLA from Bhucho Mandi, has been booked in several chit fund scams in the past.

Asked for 5 crores instead of getting released from jail

Police Commissioner Mandeep Singh Sidhu said that a case of cheating (on Kotbhai) has been registered on the complaint of Shinder Singh, nephew of Pearl Group chief Nirmal Singh Bhangu. Shinder Singh has said in his complaint to the police that Kotbhai met Bhangu, who was sent from Tihar Jail to Bathinda Jail a few months back. The complainant said that Kotbhai had told Bhangu that he had considerable influence in the government and that if he gave him Rs 5 crore, he could get him released from jail.

'The companies in whose accounts money was deposited turned out to be fake'

According to the police, Bhangu agreed to pay Rs 3.5 crore as advance and Rs 1.5 crore after his release from jail. Bhangu told this to Singh, who borrowed Rs 3.5 crore on interest from a person named Gurdhari Lal and deposited this amount in the accounts of various companies as instructed by Kotbhai. According to the police, but later the complainant came to know that the companies in whose accounts he had deposited the money were all fake. After that a case has been registered against Kotbhai and five others under relevant sections of the Indian Penal Code. Chit fund company Pearl Group had allegedly cheated many people in different parts of the country including Punjab by operating various investment schemes illegally.

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