NBFC Scam: MD, Director of Maxizone Touch brought to Jamshedpur after arrest
PINAKI MAJUMDAR Advertisement Jamshedpur, Sept 9: In a major breakthrough, Sakchi police have arrested Bhushan Singh, Managing Director of Non-Banking Financial Company…
PINAKI MAJUMDAR
Jamshedpur, Sept 9: In a major breakthrough, Sakchi police have arrested Bhushan Singh, Managing Director of Non-Banking Financial Company (NBFC) Maxizone Touch Pvt Ltd, and his wife Priyanka Singh, the company’s Director, from Gurgaon.
Both have been brought to Jamshedpur and are currently held at Sakchi police station. An official statement from the police is still awaited.
According to sources, the company lured thousands of investors across Jamshedpur and other regions by promising high returns, hefty commissions, and even engaging Bollywood celebrities for promotions.
However, around three years ago, the company suddenly shut down without notice, fleeing with crores of rupees invested by the public.
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Local residents claim that over 10,000 people had deposited their hard-earned savings in the firm, only to later realise that their money had vanished.
Multiple complaints were lodged at different police stations, but the accused managed to remain untraceable for years.
Police sources revealed that Bhushan and Priyanka Singh had been hiding in Gurgaon.
After prolonged investigation and tracking, the duo was finally nabbed.
They will now face charges of fraud and other serious offences at the Sakchi police station.
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Police interrogation is underway, and authorities are also working on measures to recover the defrauded money.
The arrest has brought a sense of relief to duped investors, though further probe and possible arrests are expected in the case.
