The director of a chit fund company was fooling the police by growing a beard, now he has been arrested

Jashpur. After a lot of effort, the absconding director of Vinayak Homes and Real Estate Private Limited Chitfund Company was brought to Jashpur today from Indore, Madhya Pradesh. The accused has been involved in a fraud of Rs 54 crore in 8 districts of Chhattisgarh. Accused Jitendra Bise used to hide his identity and change his appearance due to fear of arrest. The accused in the case, Phoolchand Bise and Yuvraj Malakar have already been arrested, search for 2 absconding accused is going on. SSP Jashpur Shashi Mohan Singh reviewed the chit fund cases and directed to arrest the absconding directors and identify their property. In compliance with this, under the guidance of Additional Superintendent of Police Jashpur Anil Soni, a special team was sent to Indore (Madhya Pradesh) to trace and arrest the absconding directors of the chit fund company. In this, absconding director of Vinayak Homes and Real Estate Private Limited Jitendra Bise, resident of Indore (MP) was surrounded and taken into custody after a lot of investigation and brought to Jashpur. The said absconding accused used to hide his identity and live with a long beard.
The complaint sent by the applicant Nirmala Bai, resident of Gadhatoli Jashpur was handed over to the police station in-charge of City Kotwali Jashpur for investigation. During investigation it was found that on 18.12.2021, the accused Vinayak Homes Private Limited Chitfund Company’s Directors 1- Jitendra Vise resident of Ambedkar Nagar Indore (MP), Phoolchand Bishe resident of Ambedkar Nagar Indore (MP), Yogendra Bishe resident of Ambedkar Nagar Indore (MP), Kalu Singh Verma resident of Sarangpur Pachair and Yuvraj Malakar resident of Dewas Naka Indore (MP) together with the applicant through agents told her that if she invests money in Vinayak Homes and Real Estate Private Limited Company, the deposited amount will be tripled and she will get a separate commission of Rs. 25 thousand every year, and by luring her, they took Rs. 1,20,000 from the applicant and gave her a cheque like paper and also took Rs. 20,000 from another woman living in the applicant’s neighbourhood and also cheated other investors of the area of lakhs of rupees. On finding the complaint to be true, after investigation, a case was registered against the accused under section 420, 120 (B) of the Indian Penal Code and section 10 of the CG Depositors’ Interest Protection Act at Police Station City Kotwali, Jashpur, and the investigation was taken up. Accused Jitendra Bise, along with his 4 other accomplices, was found to have defrauded a total of 785 investors of Jashpur Police Station area of Rs. 1,59,85,534/- (one crore fifty nine lakhs, eighty five thousand five hundred thirty four).
Similarly, the applicant Premchand Singh, resident of Bihabal Police Station Kansabel, lodged a report in Police Station Farasbahar on 15.04.2017 that Jitendra Bise, through his agents, had promised that if he invests money in Vinayak Homes and Real Estate Private Limited Company, the deposited amount will be tripled and he will also get a separate commission of Rs. 25 thousand every year. By luring 6 other investors of the area with the promise of getting money, a total of Rs. 66,000 (sixty six thousand rupees) was invested. On which a crime has been registered against accused Jitendra Bise in Farasbahar police station under section 420, 34 IPC and section 10 of CG Depositors’ Interest Protection Act. During the investigation of the case, on getting information from an informer and with the help of cyber cell that accused Jitendra Bise was living in Indore with a grown beard and in disguise, a team was formed from district Jashpur and sent to Indore. The team traced him for several days and after raiding, took him into custody and brought him to Jashpur. During interrogation, the accused admitted to committing the said crime along with his accomplices.
Accused Jitendra Bise of Indore (Madhya Pradesh) has been arrested on March 5 and sent to judicial custody. The main accused in the case (1) Phoolchand Bishe Indore (Madhya Pradesh) presently residing in Ujjain (MP) has been arrested on 27.07.2023 and sent to judicial custody. One of the accused in the case Yuvraj Malakar Indore (MP) was earlier brought to Jashpur after being obtained on production warrant from District Jail Balodabazar and arrested on 10.12.2021 and sent to jail on judicial remand. Senior Superintendent of Police Jashpur Shashi Mohan Singh has said that 3 directors of the chit fund company have been arrested, the properties of 2 absconding accused are being identified and detailed details are being collected, thereafter the process of property attachment will be started.