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    CBI registers 30 FIRs in 30 days

    Synopsis

    In the 30 FIRs (first information reports) registered so far, complainants have alleged that they were promised “double return in a short span of time”, but never received the returns promised after they invested money in the schemes.

    Agencies
    On June 12, ET had reported that the agency has decided to register 102 cases pertaining to ‘chit fund’ scandals
    NEW DELHI: The Central Bureau of Investigation has registered 30 cases in as many days to investigate chit fund scams in West Bengal involving frauds ranging from Rs 5,000 to Rs 1 crore. The cases, registered between June 1 and 30, account for a third of the total cases the agency has decided to register in the state by the end of 2020 against individuals and companies for alleged fraud.

    On June 12, ET had reported that the agency has decided to register 102 cases pertaining to ‘chit fund’ scandals which had hit West Bengal in 2013, bringing the spotlight on an investment scheme in which people were duped of crores of rupees. As per available information, the CBI will register the remaining 72 cases in the coming weeks.

    In the 30 FIRs (first information reports) registered so far, complainants have alleged that they were promised “double return in a short span of time”, but never received the returns promised after they invested money in the schemes. Instead, the complainants have alleged, the accused threatened them with dire consequences when they asked for their money to be returned. In these cases, the CBI has registered FIRs on charges of “criminal breach of trust, cheating, and criminal conspiracy”.

    Gopal Ghosh, a resident of Howrah, in his complaint said he had invested Rs 5,000 with an assurance of getting double return in a short span of time.

    He even approached the directors and CMD of the accused company but they did not return his money, and instead threatened him, reads one of the FIRs. Another complainant, Jagannath, alleged that the Rs 80,000 he had put into what turned out to be a Ponzi scheme, was misappropriated.

    Likewise, Biplab Das and Anita Nag Choudhary, residents of Ahmedabad, had invested Rs 25 lakh and Rs 1 crore, respectively, in the chit fund schemes but were duped. Few of the FIRs registered by the CBI are on the basis of directions of a local court which ordered the police to register FIRs after the latter failed to take action on a complaint.

    On June 12, ET had reported that notwithstanding the shortage of investigating officers in its Kolkata division, the CBI has decided to register 102 cases by dividing them between three branches--economic offences branch, anti-corruption branch and economic offences- unit IV.
    (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

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    4 Comments on this Story

    May 29 days ago
    Judiciarys delays is bringing injustice to people of India in fight against corruption and crime.
    Utpal Jalan29 days ago
    newspaper has classified this news under politics not crime
    Utpal Jalan29 days ago
    none of case based on promise of return will stand criminal justice
    The Economic Times