Odisha Police Crackdown: The Chit Fund Conundrum

The Odisha Police arrested Dwipika and Tandra Bhanjo from Kolkata for allegedly duping 34,000 people through illegal chit funds spanning five states and Bangladesh. The arrests follow the detention of Tushar Bhanjo, who orchestrated the scheme, collecting over Rs 123 crore. Authorities identified significant fund transfers to personal accounts.

The Odisha Police recently apprehended Dwipika Bhanjo and her daughter Tandra in Kolkata. They are accused of defrauding nearly 34,000 people through illicit chit funds across five states and even Bangladesh, a senior police officer reported on Wednesday.

Tushar Bhanjo, Dwipika's husband, had been arrested in June 2024 in relation to the case, stemming from operations of Harit Krishi Nidhi Ltd and Transvision Dream Multi Trade Pvt Ltd, which he led. These companies collected over Rs 123 crore, promising high returns to investors.

The Economic Offences Wing (EOW) revealed substantial funds were shifted to Dwipika and Tandra's personal accounts. The police have since sealed assets linked to the accused, while investigations continue to unravel the network of deceit.

(With inputs from agencies.)