Despite ban, people falling prey to chit-fund companies

Admin   |   07 October, 2014   |   588   |   3980

Despite ban on chit-fund companies indulging in money-collection and multi-level marketing schemes in the state, people continue to fall prey to these companies as three such cases have come to light in the district in the past one month only.

In these cases, the chit-fund companies have allegedly cheated people to the tune of crores of rupees by collecting money from them by assuring them to pay handsome interest on the amount invested and by enrolling more and more members in the trading firms.

In the recent case, two persons have been booked by the Cantonment police for allegedly duping people in the name of a chain business.

Complainants Ravinder Kumar and Rajinder Kumar, residents of Kamla Nehru colony here, have alleged that they have been duped of over rs 2 crore by a private company Sujas Capital Private Limited that asked  them to invest in the chain trading business. The police have booked two brothers Manjit Singh, a resident of Basant Vihar here, and Karamvir Singh a resident of Delhi, in this connection.