A new 25,000 crore Scam Emerges From Jharkhand

The CBI has taken over investigation of the four cases pertaining to chit fund scam believed to be involving funds of over Rs 25,000 crore in Jharkhand on the directions of the state High Court. The agency has re-registered four FIRs pertaining to chit fund companies — DJN group of companies, Gurukul group of companies, Shashank Industries Corporation and Star Finance company.

A total of 25 accused have been booked in these four cases, according to the FIRs. These cases were investigated by the Jharkhand Police so far, the CBI FIRs say. “It is submitted by the Additional Advocate General that a detailed counter affidavit has been filed on behalf of respondent, who has brought on record several facts including the amount involved in one company being approximately of Rs 1,600 crore and total figure may even cross Rs 25,000 crore,” the order of the High Court had said.

The court was submitted a list of 27 chit fund companies operating in the state which were under the scanner of the state police. “Over and above the aforesaid offences, similarly situated other First Information Reports, registered at various other police stations about chit fund companies are also handed over to the CBI for further investigation. These cases shall be identified by the CBI with the help of the State of Jharkhand,” it had said.

Even in the past firms were created dubiously during Madhu Koda Mining scam which were later used for Laundering Money overseas.