Chit Fund scam exposed in indore, gang involved in 23 billion fraudulent scam

Madhya Pradesh STF exposed a large network of Chit Fund Company that cheated on 20,18 lakhs by attracting profits in the name of investment in Indore. The gang managed a chit fund network in ten states through two fake firms from its Dubai head office. The gang raised money from investors by attracting 6 to 8% profits each month and in 2023-24 cheated around Rs 23 billion. The STF, who acted against this gang, arrested two prominent accused – Madan Mohan Kumar and Deepak Sharma of Delhi. The prominent accused involved in this scam prepared false schemes to cheat investors, who collected their plan on a large scale. Madhya Pradesh STF planned strict action in this matter and an attempt is made to catch the remaining members of this gang. The incident has emerged as a warning, proving that citizens must be more vigilant to avoid kit funds and false investment plans. Share this story -tags