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Rose Valley chit fund scam: 2,38,477 small depositors to get back their money

13/12/2018 at 5:28 PM

 

Cuttack: As many as 2,38,477 small depositors in Odisha who lost Rs 10,000 or less to Rose Valley Group, a bogus chit fund company will soon get back their money.

A special court, designated to deal with chit fund scam-related cases, today directed the competent authorities to distribute Rs 92.08 lakh to among the 2,38,477 small investors by paying each Rs 7,000 or less depending upon the deposited amount.

The Rose Valley Group is accused of cheating investors from West Bengal, Tripura, Assam, Odisha, Jharkhand and Maharashtra more than Rs 17,000 crore with false promises of paying high rates of interest.

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