NBW against firecracker trader in chit fund fraud
PRAYAGRAJ, Sept. 24 -- Trouble continues to mount for city's well-known firecracker trader, Mohd Qadir, as a non-bailable warrant (NBW) has been issued against him in connection with a multi-crore chit fund fraud case. Qadir, along with his nephews Kashif and Asif, is accused of duping hundreds of people by luring them into investing in a fake chit fund company with promises of doubling their money, police officials said.
One of the accused, Asif, has already been arrested by Shahganj police and sent to jail, they added.
"A named FIR has been registered against Mohammad Qadir, his nephews, and others for defrauding people under the pretence of a chit fund investment scheme. One of the accused is already in jail. The court has now issued a non-bailable warrant against the remaining accused," said Pushkar Verma, additional DCP (City).
According to officials, Qadir and his associates allegedly created forged documents and misled investors under the guise of a legitimate investment scheme, eventually shutting down the operation and fleeing with crores of rupees. An FIR was lodged against Qadir, his nephews, and other accomplices after several victims came forward....
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