By IANS,
New Delhi : A city court Thursday sent former Delhi legislator Ranbir Singh Kharb, accused of duping hundreds of investors of Rs.4.75 crore in a chit fund scam, to seven-day police custody.
Metropolitan Magistrate Devender Nair accepted the plea of police that Kharb’s custodial interrogation was necessary to establish his and his wife Anita’s involvement in the scam.
Kharb, a former legislator from Najafgarh, was arrested Wednesday by the Economic Offences Wing (EOW) of Delhi Police from Sonepat (Haryana) after the high court dismissed his anticipatory bail.
He had launched a company, Jyoti Fair Finance, in 1998 and allegedly duped hundreds of people in West Delhi of around Rs.4.75 crore by promising to double their money in three years.
Seeking his custody, police told the court that his wife, a co-accused, has been absconding.
Kharb, however, opposed the police contention and said they had failed to collect evidence in the period since the case was registered in 2006.
Scores of investors, who lost money in Kharb’s scheme, were also present in the court hall and shouted slogans against him.