Chit fund scam: Investors lodge complaint against Sai Prasad Group

Bhubaneswar: A complaint was lodged against the Sai Prasad Group of Companies, a Pune-based chit fund company, for duping nearly Rs 100 crore from the investors in Odisha.

Report said some investors today lodged a complaint with the CBI and the Economic Offences Wing (EOW) of the State Crime Branch against the company.

In the complaint, the investors alleged that the company had opened branch offices in 12 districts and collected money from the investors through attractive schemes with a promise of high returns.

The company had started its business in Odisha in 2008.

Notably, the EOW of the Mumbai Police had earlier arrested six persons including the CMD of the company Balasaheb Bhavkar, his wife and son following a complaint by the investors.