NEW DELHI, OCT 1: The CBI today carried out searches in 19 locations in Odisha and West Bengal in connection with multi-core chit fund scam.
The searches were conducted in the residences of the Managing Director and Directors of a chit fund company having operations in these two states, official sources said.
Besides, the company’s office was also searched in connection with the case, they said.
The company has allegedly duped investors of crores of rupees on the pretext of giving good returns on their investment, the sources said.
Notably, the CBI, following the Spreme Court directive, has started country-wide crackdown on fraudulent chit fund companies which are duping gullible investors.
Other than CBI, ED and Income Tax department are also probing infamous Saradha chit fund scam of West Bengal in which people were duped of at least Rs 2,500 crore.
