Senior Bharatiya Janata Party leader Kirit Somaiya on Friday has written to chief minister Prithviraj Chavan saying the state is sitting on a “cheat fund” of Rs. 10,000 crore.
On the heels of the Saradha chit fund scam in West Bengal, Somaiya has said at least 10 lakh small investors and 1 lakh young investors are involved in such easy-money schemes and demanded action against them.
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“These companies are not registered with any regulators... They get themselves registered with ROC. With that...they cheat the youngsters offering them commission of 15 to 25% to get deposits etc. from common man,” states the letter.
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