Home ODISHA LATEST Another chit fund firm defrauds depositors of Rs 80 crore

Another chit fund firm defrauds depositors of Rs 80 crore

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OST Bureau

Bhubaneswar, Dec 21:

Another chit fund company has allegedly defrauded gullible depositors who have lost nearly Rs 80 crore, reports said.

The matter came to light when hundreds of depositors of Shribhumi Group of Companies lodged complaints with the Economic Offences Wing (EOW) of the Crime Branch here on Friday. The EOW has registered the complaints and has begun its investigation.

According to the depositors, Shrabhumi Group of Companies located at plot no. N-6/508 in Jayadev Vihar area under Nayapalli police limits had lured depositors by promising a monthly interest of 8.5 percent on their deposits apart from a bouquet of other attractive benefits.

The company has allegedly duped more than 25,000 depositors from across the state as well as in neighbouring states of Jharkhand and West Bengal to the tune of Rs 80 crore.

Cheques provided by the company to its depositors have bounced on presentation at banks. The depositors had initially approached Nayapalli police station to lodge their complaints, but on its refusal to do so, they had to knowck the doors of the Crime Branch, said the depositors.