Oscar chit fund scam: Agents, investors from Gujarat stage demonstration

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Bhubaneswar: Agents and investors from Gujarat, duped by the chit fund company Oscar, on Friday, staged a demonstration in front of Economic Offences Wing (EOW) of the Crime Branch here in Bhubaneswar demanding return of money.

The agents in their protest urged for strict action against the ponzi directors and have demanded return of their money they had invested in the company.

From the day the company closed all its branches in Gujarat and stopped paying premium amount of the deposits, the agents and investors have been suffering with many problems.

“We worked dedicatedly and collected huge funds for the Oscar company that was setup in various districts of Gujarat. In 2015, the directors closed all the branches there and then returned to Odisha. We registered a case against them here and submitted a petition to Naveen Patnaik but no action was taken,” alleged a Surat resident Meenakshi S Rajput.

As per the state government laws, the chit fund cases are solved within a deadline of 160 days. But it has been two and half years now and we are fighting to get back our money, added Meenakshi.

In view of this, we had given a detailed report of the branches and properties of Oscar company opened in Gujarat, along with the bank balance the company possessed, she said.

Oscar company agents stage demonstration

The agents demanded a strict CBI probe in the chit fund scam and urged the State Government to make arrangements for the refund of the investors’ money without further trouble.

The Oscar company has reportedly duped investors to the tune of Rs 230 crores through its branches at various places in Odisha, Gujarat and Maharashtra.

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