Ghaziabad: The police has busted a gang and arrested three of its members who allegedly cheated many under the guise of providing employment in the multi level marketing.

The police have also confiscated many fake IDs, passport, cheque, cheque book, ATM card, huge amount of cash and other documents. The gang has opened different companies and cheated people of Rs 50 crore to Rs 100 crore.

According to the police, the group had opened several companies and later ran away with the money invested by thousands of people in Chennai, Bangaluru, Mumbai, Jaipur Delhi, Ghaziabad and Noida. The arrested have been identified as Vipin Rajput, Manish Rajput and Arjun Singh.

However, the two masterminds — Narendra Singh and Deepak Rajput — are still absconding. Both Pal and Rajput are residents of Indirapuram and Vaishali respectively and they operated their business through offices and websites.

The police have revealed that the accused used to travel in executive-class, employed women, booked five-star hotels for their launches and invited dignitaries and film actors for the opening of their offices in big cities to gain public confidence.

(JPN/ Bureau)