Nation Current Affairs 21 Sep 2019 Hyderabad: Police ar ...

Hyderabad: Police arrests absconding Ponzi scheme convict

DECCAN CHRONICLE.
Published Sep 21, 2019, 1:53 am IST
Updated Sep 21, 2019, 1:53 am IST
The Cyberabad police during September 2018, registered cases against the FMLC company.
The accused was arrested at Hisar in Haryana and brought to the city on a transit warrant. (Representational image)
 The accused was arrested at Hisar in Haryana and brought to the city on a transit warrant. (Representational image)

Hyderabad: Managing director of Future Maker Life Care Pvt Ltd company, who was booked in a case under the Prevention of Money Laundering Act, 2002 was arrested by the Economic Offences wing of Cyberabad police commissionerate on Friday.

The accused was arrested at Hisar in Haryana and brought to the city on a transit warrant.

 

The Cyberabad police during September 2018, registered cases against the FMLC company and its Directors Radheshyam and Bansilal, on the allegations of running a Ponzi pyramid scheme and collecting close to Rs. 3,000 crore from the public across the country, luring them with opportunities of earning high commissions by joining their schemes and making more people join the schemes.

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Location: India, Telangana, Hyderabad




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