CBI books former TMC MP for fraud

New Delhi, April 10

The Central Bureau of Investigation (CBI) has registered an FIR against former TMC MP KD Singh and his realty firms Alchemist Infra Realty Limited and Alchemist Township Limited for allegedly cheating 291 Kanpur-based investors on the pretext of providing them residential properties.

Officials in the agency said the CBI took over the 2019 case registered by the Uttar Pradesh Police. According to the FIR, a copy of which is with The Tribune, the case was registered on a complaint lodged by Pawan Mishra, a Kanpur resident. Mishra had alleged that in 2019, the companies had collected money through a Ponzi scheme for providing residential properties in Ferozepur in Punjab. It was told that in case of default, the money would be returned at an interest rate of 18 per cent per annum, according to the FIR. The complainant had also alleged that the companies had collected Rs 25,000 crore from 15 lakh investors across India. — TNS