Team News Riveting
Raipur, May 15
Rajnandgaon police have arrested two directors of Adarsh Credit Co-operative Society in connection with a multi-crore fraud.
A team of Rajnandgaon police went to Rajasthan from Chhattisgarh and nabbed the two directors namely Mukesh Modi and Rahul Modi. They have been brought to Rajnandgaon.
Mukesh Modi’s Adarsh Credit Co-operative Society has allegedly duped investors of Rs 200 crore through Ponzi schemes in different states. The society, with 806 branches across the country has around 1 million investors with an investment of about Rs 8,000 crore with it.
The society siphoned investors’ money by transferring funds to shell companies. Mukesh Modi also benefitted his family members by duping the investors.
Rajnandgaon Superintendent of Police Santosh Singh said offences were registered against the directors in the district for duping investors of Rs 3-5 crore in the district. The police have also received a number of complaints against Mukesh and Rahul Modi, he added.
Under the direction of Santosh Singh, the Rajnandgaon police had cracked down on the companies duping the poor investors. Two days ago, the district police had arrested four directors of Sahara group companies from Lucknow.
