It extended a great source of relief to both police investigating team and thousands of investors of Bhavishya Credit Co-Operative Society Ltd. when the absconding chairman of the controversial company was detained by Bhopalpura Police.
Damodar Nagda, chairman of the company is accused of committing fraud worth crores of rupees and was on the run since complaints were registered against him by many of the investors.
Nagda was absconding since 22nd Feb. During initial interrogation, he informed police that he continuously changed his location to avoid arrest. During the run, he went to Kashmir, Punjab, Gujarat and many other places.
Kailash Singh Sandhu, officer from Special Operation Group who is appointed to investigate the case informed, “Nagda was rounded off at Rajasthan- Gujarat border and brought to Bhopalpura Police Station. He will be interrogated soon.”
The treasurer of Bhavishya Credit Co-Operative society, Rajesh Sharma and Secretary, Arvind Mehta were already arrested while the fourth and last accused Sanjay Shukla, who was vice president in the company is still on the run.
It is believed that Shukla is the mastermind for designing attractive investment schemes for customers.
The information of Damodar’s detention spread like wild fire and soon many investors who had put their hard earned money in the society gathered outside the police station.