8 held for running ponzi scheme in Bishnupur, Imphal West districts | Imphal News
IMPHAL: Manipur Police arrested a group of eight persons for running an alleged Ponzi scheme through a micro finance group, ‘Grow Manipur Team’ (GMT), in Bishnipur disrict on Friday.
The accused, including the group’s founder P Maikel Singh (30) and some of his family members, were arrested by a team of Moirang police station, while others were caught from different parts of Bishnupur and Imphal West districts.
Sources said that police registered a case against them under sections 406/420/506/120-B IPC and 4/5/6 of Prize Chits and Money Circulation Scheme Banning Act, 1978. The group was arrested after a complaint was lodged by an…