More than a hundred women in Belagavi reported to the police that they had fallen victim to chit fund agents who swindled them of their savings. These agents allegedly gained the women’s trust before convincing them to invest in a fraudulent scheme. The victims, mainly women, are seeking prompt action against the scammers.
The fraud scheme operated under the guise of chit fund contributions, deceiving individuals into putting their money into it. Following the disappearance of the chit fund manager with their funds, the group of affected women approached the city police commissioner for assistance. It is estimated that the women collectively lost over Rs 3 crores due to this chit fund scam.
Belagavi city police commissioner Bhushan Gulabrao Borase addressed the media, stating that a group of women from the camp area had filed a complaint against a firm named Shree Ganesh Mashik Varshik Fund. The women alleged that the agency had promised them a 10% annual interest rate and FDs with 25% returns, but failed to fulfill their commitments and absconded with the invested funds. Legal actions are being pursued against the perpetrators, with the case being handled by the ACP crime division.
One of the victims, Sakshi Santosh, recounted her experience, mentioning that she used to deposit funds with a person named Dilip Nayak. Dilip and his son operated the scheme, initially providing interest payments but later ceased payments. Despite their repeated demands for refunds, they were redirected to Dilip’s wife, who claimed no association with the matter.
