Rs 80,000 Crore Chit Fund Scam

Recent Chit Fund scam by various companies have duped thousands of depositors of at least Rs 80,000 crore. This is the estimation provided by Central Bureau of Investigation (CBI) .

Majority share of this scam is from eastern state of India i.e. West Bengal, Tripura, Odisha, Assam and other states. Pearls Group which operates in Punjab and other north Indian states alone duped investors to the tune of Rs 51,000 crore.

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Majority of the money from these schemes are invested in purchase land, open media outlets, hotels and other businesses, denying depositors their dues.

CBI is handed over the case by supreme court after commenting over regulator RBI, SEBI and registrar of companies.