OMG! 18 thousand people were cheated of Rs 500 crores, this is how it was revealed

Lalitpur. Police has arrested the operator of a fake chit fund company in the case of fraud of Rs 500 crore. According to the information, the accused Alok Jain used to run a fake chit fund company in the name of LUCC. During this time, he had defrauded about 18 thousand people of Rs 500 crore.

Also read: Misuse of resources: Fraudsters hacked people’s accounts by watching YouTube, cloned thumbs with candles, then transferred money to wallets

The accused used to commit fraud through agents in many states. When the SIT investigation was done, the fake chit fund company was exposed. The police has started searching for other members of the company. Also, the BBIP office has been seized and documents have been recovered.