Ponzi firm dupes several people displaced by Lower Indra project

Nuapada: Chaouban Majhi, a resident of Sanbahal village is now running from pillar to post after he lost all his savings to a ponzi company.

Majhi, who was reportedly displaced by the Lower Indra project, had deposited the compensation money in Vista Management Services Limited.


“I had deposited Rs 2 lakh in Vista after its officials assured to pay Rs 60,000 per year. I invested all my compensation money in the company. Now I am neither able to construct house nor stay here as water has submerged the land,” said Majhi.

Shanta Ahir, another villager who also deposited her money with Vista alleged that the company has duped several others in the village.

“The government had provided Rs 4 lakh each as compensation for vacating our land for the project. The Vista officials lured us by saying that our money will be doubled. Now we do not have money and our land is gradually immersing. I have no idea where to go,” Ahir added.

Rehabilitation & Resettlement officer, Himanchal Majhi informed that the people in the village had voluntarily opted for self-relocation. As per norm, first installment of the compensation was provided and the second installment was to be provided after they completed house construction work.

“The Commission of Inquiry had visited Nuapada district for an investigation. Though we had received a list of 24 people who were cheated by the chit firms, only eight were eligible. All these cases are related to Ashtha International chit fund. However, we have not received any complaints from the commission or anyone regarding the new chit fund company ,” said Additional district Collector, Sitaram Patel.