Relief for 3.27 Lakh Investors in Odisha Chit Fund Scam
Bhubaneswar: The Odisha government has disbursed Rs 128 crore to 3,27,642 genuine depositors who were duped in chit fund scams.
District collectors facilitated the payments after auctioning assets and seizing deposits of three fraudulent companies — Rose Valley Group, Golden Land Group, and Hi-Tech Estate Promoter Pvt. Ltd.
To support small investors, the state had earlier created a Rs 300 crore corpus fund. From this, 99,845 depositors have already received Rs 47 crore in compensation.
Chief Minister Mohan Charan Majhi reaffirmed the government’s commitment to ensuring justice for victims, stating that compensation will continue until all genuine depositors are paid.
Meanwhile, the Economic Offences Wing is investigating multiple complaints, with cases registered against several firms.
Authorities have issued attachment orders against properties of 68 illegal financial institutions, of which 42 have been confirmed by courts.
The government emphasised that its priority remains safeguarding citizens from fraudulent financial practices and restoring trust in the financial system.
