Former Delhi legislator, wife arrested for Rs.20 bn fraud

June 17th, 2009 - 10:47 pm ICT by IANS  

New Delhi, June 17 (IANS) The Economic Offenses Wing (EOW) of Delhi Police Wednesday arrested former legislator Ranbir Singh Kharab, days after a non-bailable warrant was issued against him for allegedly duping many investors of Rs.10-20 billion.
Kharab, a former Independent legislator elected from Najafgarh in 2003, was wanted in a chit fund scam.

He with his wife Anita were on the run after duping people in west Delhi. The husband and wife were arrested from Sonepat in Haryana and would be brought to a Delhi court Thursday.

Police said the accused had floated a chit fund company Jyoti Share Finance in 1998 and promised the investors to double their invested amount in three months.

Kharab carried his con act more than 10 years back and his cases had since been dragging on in the city courts.

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