Investor duped of lakhs in ponzi scheme

Bhopal: A man has been booked for allegedly running a ponzi-style investment scheme in Bhopal, luring investors with promises of high monthly returns and cheating them of lakhs of rupees. While only one complainant, a woman athlete, has come forward so far, police suspect the accused may have duped several others of crores in Bhopal and elsewhere. Jyoti, a resident of Harshvardhan Nagar, alleged that Rajendra Singh operated an office in TT Nagar and convinced people to invest money with assured monthly returns. She said she invested Rs 5 lakh and initially received Rs 21,000 for two months before payments stopped, after which the accused allegedly gave excuses and later offered a plot instead of refunding her money. An ex-serviceman is also believed to have invested in the scheme. TNN