This story is from January 15, 2019

Baghel announces to withdraw cases against ponzi firm agents

Baghel announces to withdraw cases against ponzi firm agents
Chief minister Bhupesh Baghel
RAIPUR: In a major relief to the several people were working for ponzy companies but were booked by the state police in scams after the companies fled after duped gullible people, chief minister Bhupesh Baghel announced to withdraw the cases registered against local youth during the Raman Singh government.
He said the local youth who worked in such chit fund companies that duped people would be freed and action would be initiated against the directors of these flyby night firms and guilty officials of these firms.

The chief minister made the announcement at a formal event in Raipur on Monday.
Opposition Congress had accused the Raman Singh government of patronising unscrupulous chit fund companies which siphoned off public investments to the tune of nearly Rs 5000 crore and were de-sealed and allowed to operate despite SEBI and RBI directives.
Congress said at least 57 people had committed suicide and the government did not act on more than 300 FIRs registered against these chit fund companies
As per Congress spokesperson, more than 161 chit-fund companies in Chhattisagrh embezzled the hard-earned savings and deposits of people during last nine years.
About 20 lakh families of chit fund investors and one lakh agents have been cheated of more than Rs 5 crore in which 57 people have died, they alleged.

More than 300 FIRs have been registered none of the victims of chit-fund fraud has got refund, the Congressmen alleged.
Briefing how the people were trapped in the chit-fund scam the Congressman said that the chit-fund companies organised the event through job-fairs in which the former chief minister Raman Singh and other MPs and senior officers attended the programmes, and the people got the impression that the job-fair event is being organised in association with government.
The Congress had announced to return the chit fund amount in its manifesto.
The Congress party asserted that after withdrawing the case against the agents, many chit fund companies will get relief from the local agents who have been unnecessary accused with the directors.
After the chit-fund company operators fled, Chhattisgarh police registered cases on company’s directors and their local agents.
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