Charge sheet in chit-fund scam

Jammu: The Jammu and Kashmir crime branch today submitted a charge sheet in connection with Vikrant Finance Company chit-fund scam for allegedly duping its depositors, official said. The charge sheet was presented before the Court of Chief Judicial Magistrate in Rajouri by the crime branch of J&K police, the official said.  

The main accused of the scam, who was absconding for the past eight months, had been arrested from Jammu and Kashmir’s Rajouri district on May 29. “The crime branch has received a complaint from the Reserve Bank of India stated that Vikrant Finance Company was flouted in Rajouri by accused – Kewal Koul, Kamal Kumar, Rakesh Kumar and Ashwani Kumar – under the notion that it was registered with the RBI and the Registrar of Companies, and collected money from the people,” SSP Crime Mubassir Latifi said.

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