West Bengal’s Economic Offenses Department has arrested a man for duping hundreds of senior citizens by promising to refund them.
It is reported that he was sent to jail for three days.
DEO sleuths on Thursday night raided a house in Ballygunge area of the city and arrested the director of a Ponzi scheme company.
The company has been operating since 2007 and has been duping customers by promising to double their money, the report said.
“We have received a specific complaint against the accused in Topsia area and he has been arrested,” officials said.
