KHANNA, September 20: — Police in Khanna on Tuesday announced the busting of a massive Ponzi racket involving at least ₹122 crore, with four people arrested and multiple others still absconding. Investigators said the accused lured investors through fake firms under the guise of promoting organic farming and other ventures.
Senior Superintendent of Police (SSP) Jyoti Yadav said during a press briefing that four suspects—Bikramjit Singh (42) of Gahlewal, Samrala; Amit Khullar (43) of Ferozepur; Harpreet Singh (25) of Gahlewal, Samrala; and Avtar Singh (47) of Khirnia, Samrala—were apprehended following raids at the company’s office in Samrala. Police also seized four laptops, four CPUs and two mobile phones from the accused.
“The complainant was told he would receive an 8 per cent profit every month if he invested in their company, but he was duped,” SSP Yadav noted. She added that the complainant, Joginder Kumar of Baba Nand Singh Nagar, Phullawal, had invested ₹25.75 lakh along with his brother-in-law but received only ₹3 lakh in return.
Following his complaint filed on September 17, an FIR was registered at Samrala police station. Another FIR was lodged the next day, naming additional suspects, including Bikramjit Singh and Parvinder Singh. “We acted immediately and conducted raids, which led to the arrests,” Yadav said.
The SSP revealed that four more accused remain at large. They were identified as Jaspreet Singh of Jallanpur, Samrala; Satvinder Singh, alias Sona, of Amloh in Fatehgarh Sahib; Jatinder Singh, alias Kamal Grewal, of Mandi Gobindgarh; and Parvinder Singh of Amloh.
Police investigations uncovered that the suspects had floated several firms under names such as The Generation of Farming, Hope of Farming, Randhawa Enterprises, The GAF Trading Enterprises, Kisan of Punjab Agro Nursery, Generation of Fitness Lab, The GAF Family Care Products, and The GAF Milk Products.
“These companies were nothing but a front for their fraudulent activities,” Yadav mentioned. A total of 21 bank accounts linked to these firms have been traced. Between January and July this year, transactions worth ₹122 crore were routed through these accounts, with ₹60 lakh already frozen.
Authorities confirmed that victims of the scam are not limited to Punjab but also hail from Haryana and other states. “After the scam came to light, eight more complaints have been filed against the accused, and investigations are underway,” the SSP said.
Given the scale of the fraud, a Special Investigation Team (SIT) has been formed, with SP (Detective) Khanna as the nodal officer. The team also includes the Samrala DSP, DSP (Detective), and Inspector Vinod Kumar.
“This is a major racket, and we are pursuing all leads to bring the remaining suspects to justice,” Yadav stated.
