Muzaffarnagar, Oct. 9 -- A shocking investment scam has come to light in Muzaffarnagar, where a B.Com graduate along with his associates allegedly duped over 5,000 people of Rs 100 crore by promising high returns on investments, officials said today.
Police have arrested three individuals in connection with the case, seizing a Tata Nexon car and beauty products worth Rs 4 crore.
According to the police, the mastermind of the scam, Amit Kumar (29), launched a fake investment firm named Senemy Consulting Private Limited along with his wife.
The firm promised a lucrative 16 percent return and up to 2.5 times the invested amount within 16 months. To gain public trust, the group used fake agreements and offered commissions for referring new i...