Police nabs Pippal Singh of Nicer Green Groups promising unauthorized money pooling scheme – victims hold protest in Ferozepur
Police nabs Pippal Singh of Nicer Green Groups promising unauthorized money pooling scheme – victims hold protest in Ferozepur
Ferozepur, May 16, 2016: On Sunday, with the arrest of Pippal Singh – Director of Nicer Green Groups – Nicer Green Housing and Infrastructure Developers Ltd. (NGHDL), Promoter and Managing Director of NGFL and NGHI Developers India – from Uttar Pradesh, today hundreds of people who became victims of Nicer Green Groups in Ferozepur hold a protest in a crackdown on an unauthorized money pooling scheme promising high returns to the innocent people, by raising funds from public and from launching new investment plans.
Pippal Singh was produced in the court today from where he was sent two days’ police remand. The arrest of Pippal Singh has put an end to the hide and seek drama between police and Pippal Singh.
The Securities and Exchange Board of India (SEBI has barred the Nicer Green Groups and its Directors from any activity of fund mobilization.
Added here that several people belonging to this border region, who had invested lakhs of their hard earned money in Nicer Green Groups, had been holding protest in the past and demanding the arrest of its CEO and other members.
However, the uptight people demanded stern action against Pippal Singh and other employees of Nicer Green Group.
It is also alleged that that Pippal Singh enjoys close proximity with several political bigwigs. One of the protestors even alleged that the police is also trying to save the them.
Manminder Singh, SSP, Ferozepur said that the police will deal with a firm hand with the owner and employees of the groups and hopeful that several revelations will come on surface during the investigation.
