Sullia : Finance, chit fund firm shuts doors after duping many of crores of rupees

Sullia : Finance, chit fund firm shuts doors after duping many of crores of rupees

Mangalore Today News Network

Sullia, June 3, 2014: The Jai Krishna Money and Gold Scheme firm which was operating from a full-fledged office at Rajashree  Complex in the town has closed doors,  after cheating hundreds of people of crores of rupees. With its owner now absconding, angry customers barged into the office in the town on June 2, Monday and took away all the furniture in the office.

A person named Sudhama who hailed from Kerala but was residing in Aletti village, had started  Jai Kisan Finance at DM Complex at Sullia a few years ago. Apart from offering gold loan, mortgage loan etc he was also into chit fund business. About one and a half years ago  the Jai Krishna Gold Scheme office opened at Rajashree Complex and even the chit fund business was shifted here. It is said around 1000 people had invested in the business and most have not got their money.

Sources also say one chit fund of 100 people had only 40 to 50 genuine members, while the rest were fake names. It is said there had been disputes on several occasions and though police were informed, none had lodged a written complaint.

As of now both the offices of the firm have shut doors.