The Central Bureau of Investigation (CBI) on Tuesday registered a case against a former Rajya Sabha MP, his son and seven others on the allegations of cheating and misappropriation of about Rs 100 crore invested by a large number of private persons in two chit fund companies on false promises by the accused.
The accused have been identified as Kanwar Deep Singh alias KD Singh, former MP, his son Karandeep Singh and seven others who were promoters or directors in the Chit Fund Companies.
KD Singh is a former Trinamool Congress (TMC) Rajya Sabha Member of Parliament. He along with others allegedly cheated investors by promising villas/plots/apartments through his companies – Alchemist Infra Realty Limited and Alchemist Township Limited, people familiar with the development as mentioned in the FIR. Searches were conducted at 12 different locations including Chandigarh, Delhi, Haryana, Bihar, Punjab and Uttar Pradesh which led to the recovery of incriminating documents.
CBI has taken over the investigation of the case earlier registered at Police Station Kotwali, Azamgarh(UP) on the allegations of cheating and misappropriation of about Rs 100 crore invested by a large number of private persons in two private companies (Chit Fund Companies) on false promises by the accused.