Garhwal Post Bureau
Dehradun, 3 Oct: A case of financial fraud has surfaced in the city, in which a company allegedly trapped local residents by offering high interest on schemes such as RD, FD, and DDS.
Police investigations revealed that the company, Doon Samriddhi Nidhi Ltd./Serve Microfinance India Association, had been operating from Sanskar Enclave on Doon University Road since 2022.
According to police, the company’s director Neelam Chauhan and founder member Jagmohan Singh Chauhan managed the operations and, along with their team, collected crores of rupees from the public. They appointed zonal head, branch head, admin manager, cashier, and nearly 30 agents to bring in more investors. People were made to deposit money mostly in cash, and fake bond papers without proper signatures were given to them.
Initially, some depositors were given their money back after maturity, but in recent months the company stopped making payments. Complaints started when depositors were not returned their money even after their accounts matured.
Police said the company directors and founders have now absconded from their home in Saraswati Vihar, Nehru Colony. The investigation also found that the money collected was deposited in several bank accounts of the company and in the personal account of director Neelam Chauhan.
A case has been registered against the directors, staff, and unknown agents. The matter is under detailed investigation, and police have assured strict action.
