Chit fund dupes duped investors, again!

Cuttack: As if their existing woes were not enough, duped investors of a chit fund company were hoodwinked once again by the same company, albeit in a different manner.

According to sources, a chit fund company named AM Fund Managers had informed the Justice MM Das Commission of Inquiry probing the chit fund scam that it will refund money to 50 of its investors.

However, rather than refunding the money, the officials of the chit fund company didn’t even show up at the office of the commission leading to protests by concerned investors.

Later, the company lawyer arrived at the commission’s office to pacify the situation and held discussions with the agitated investors.

The commission then asked the officials of the AM Fund Managers to appear before the panel personally and return the money to the aggrieved investors at their houses.

Also Read: Chit fund scam: ED attaches properties worth Rs 12.64 cr of AT group

“Today the company had called us for a final settlement. People from as far as Koraput have come here. But no one from the company came,” said a duped investor Dinakrushna Nayak.
“All legal steps have been adhered to. The authorities have asked the MD of the company to appear personally. As far as the refund is concerned, most likely it will be settled soon,” said advocate of AM Fund Managers, Kartik Chandra Tripathy.