Mumbai woman held for Rs 7 crore Ponzi fraud
(WorldNews India)

MUMBAI: A Marol resident, Harvindar Kaur (36), has been arrested for allegedly being part of a Ponzi scheme in which more than 500 people were duped after being promised double returns on investment in a year. Kaur and the prime accused, Naresh Navale (35), planned the Ponzi scheme, said an EOW officer. Kaur is in police custody till August 24. Navale, promoter of S M Motors, was arrested in April and is lodged in jail. In 2015, the accused floated a scheme, inviting...