Ponzi scheme victims to contest 6 seats in Punjab - Mandi Gobindgarh News

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Wednesday, April 10, 2019

Ponzi scheme victims to contest 6 seats in Punjab

Ponzi scheme victims to contest 6 seats in Punjab

Jupinderjit Singh

Tribune News Service

Chandigarh, April 9

Deciding not to rely on tardy investigations and false assurances by politicians any more, ponzi scheme victims have decided to take things in their own hands by fielding candidates in 50 Lok Sabha seats across the country, including six in Punjab.

In order to be heard, victims of the Pearl Group chit fund scam have formed the Lok Sewa Dal. Crown Chit Fund victims, a majority of them from Punjab, have announced support for the Dal candidates. Darshan Singh, a spokesperson for the party told The Tribune: “Leaders of various parties in Punjab and elsewhere gave assurances in writing that they would ensure the money invested by unsuspecting citizens was refunded. But nothing of the sort happened. So we constituted Lok Sewa Dal to use the democratic process (polls) as a tool to get justice.”

The Dal has announced candidates, all victims of ponzi schemes, for six of the 13 constituencies in Punjab — Mohinderpal Singh Dangarh (Sangrur), Surjit Singh Kang (Fatehgarh Sahib), Jagdev Singh Raipur (Bathinda), Jodh Singh Baandi (Anandpur Sahib), SS Bhullar (Ferozepur) and Bola Singh Khalsa (Faridkot). 

Jai Kumar, general secretary of the Crown Chit Fund Scam Sangharsh Committee, said they had been fighting cases all by themselves, braving threats to life. “The police have not arrested the key accused while supplementary charge-sheets have yet to be filed against those arrested.”


  • Pearl Group promised huge profits to those investing in agricultural land. The land was never allotted
  • Pearl Group director Nirmal Singh Bhangu (pic) and three others were arrested for Rs 45,000 crore fraud
  • The Crown Chit Fund scam involved seven companies. Most if its victims were from Punjab 
  • The loot is estimated at Rs 10,000 crore in Punjab alone. Twenty-one persons have been arrested
  • The prime accused, Mohsin Jameel and Jagjit Singh, are at large. The latter was arrested in 2015 
  • He was let off on bail on the promise he would return the money to investors; he jumped the bail. Bhangu was moved to Bathinda jail from Ivy Hospital, Mohali, last year

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