Over 37, 000 victims of chit fund scams get Rs 30 crore back in Chhattisgarh

Over 1 lakh investors in chit funds have been cheated of hundreds of crores of rupees.

In a virtual programme, Chief Minister Bhupesh Baghel returned Rs 2.56 crore to 3,274 people from Durg district who had invested in such chit funds. (File)

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With police help, district administrations across Chhattisgarh have recovered and returned Rs 30 crore that 37,000 investors had been defrauded of by chit funds, according to government officials.

From 2015 to 2017, over 1 lakh such investors were cheated out of hundreds of crores of rupees in the state.

In a virtual programme, Chief Minister Bhupesh Baghel returned Rs 2.56 crore to 3,274 people from Durg district who had invested in such chit funds.

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From 2015 till last month, 460 cases were registered against 208 such companies and 655 people were arrested, 536 of them directors.

In 84 cases, courts have ordered the attachment of properties of 44 chit funds, whose estimated value is Rs 76,32,40,870. Auction, recovery and agreement proceedings of properties worth Rs 52 crore have been completed against 32 companies in 54 of the cases. In the rest of the cases, auctions of properties of 14 companies whose estimated value is Rs 24.27 crore are under the process.

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