Alot (Madhya Pradesh): Judicial first-class magistrate Madhubala Solanki sentenced two persons to three years of rigorous imprisonment for duping three investors of lakhs of rupees. Each accused was also fined Rs 10,000.
As per information, in 2014, complainant Kailash Chandra Sethia of Barkheda village said that ADV Chitfund Company’s manager Rajendra Singh Sisodia, director Raghuveer Singh Rathore, company’s agents Hari Singh Gurjar and Ramesh Brahmin visited his shop and took him and his two brothers Gopal and Satyanarayan into confidence and convinced them to pay a fixed deposit in the company.
After five years, the company offered to return double the amount they deposited. The accused said that they also have a company office at the Kargil intersection in Alot. Convinced, Kailash Chandra paid around Rs 4 lakh to the accused. His brothers too paid a significant amount to the accused.
However, after the passing of five years, when they demanded their doubled money, the accused refused to return the money and closed their office at Kargil Square in Alot citing that the company went bankrupt and they did not have any money.
During the trial at the court of judicial magistrate, Alot, complainant Kailash Chandra passed away last year. His son Dinesh and daughter-in-law appeared before the court and gave statements in the case pending for a decade. They presented receipts of deposits and other documents in court.
Accused Rajendra and Raghuveer were arrested and imprisoned in Bherugarh jail, Ujjain. The other two accused, Harisingh Joganiya and Ramesh Brahmin are still at large. The accused have also duped many other people from different states. Cases are pending against the accused in many courts and they have been convicted in various cases.
Both the accused have been sentenced to three years of RI by Ratlam court and seven years of imprisonment by a Chhattisgarh court.
