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C'garh: 468 victims of ponzi scheme get back Rs 2.8 lakh

C'garh: 468 victims of ponzi scheme get back Rs 2.8 lakh
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As many as 468 small depositors, duped by a chit fund company, have got their money back in Chhattisgarh's Bilaspur district, an official said on Sunday. On the direction of Chief Minister Bhupesh Baghel, the state government has begun probe into several cases of people being duped by chit fund firms in the past five years and also returned money to several victims, Taran Sinha, director of the state's public relations department told PTI.

"As many as 468 investors who were duped by a bogus firm in 2015 have got back Rs 2.80 lakh. They have been paid by cheque. Probe is underway in 403 such cheating cases that took place between 2015 and October this year," Sinha said. Of the 403 cases, 248 cases fall under the Protection of Interests of Chhattisgarh Depositors Act 2005 while 65 are part of the Prize Chits and Money Operating Scheme Restriction Act 1978, he said.

Besides, 90 cases have been registered under various sections of the Indian Penal Code, he added. "In these cases, 3,65,570 people were duped to the tune of over Rs 1200 crore. We have so far arrested some 714 directors, officer bearers and agents of these fraudulent companies," Sinha informed.

He said the property is being identified in 154 cases, which would be attached and the proceeds given to the victims as a refund. CM Baghel also ordered that cases be withdrawn against agents of these firms, mostly local youth, who have been bearing the brunt of the cheating committed by the firms, he said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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