SFIO completes probe into Saradha chit fund scam

Completing its probe into 'chit fund scam' of 14 Saradha group firms, SFIO today said these companies have been found to be running 'ponzi schemes' and would face prosecution for violation of several laws.The investigation concluded that the group was using collections from new investors to make payments to the previously-enrolled members, rather than from income generated through investments, in typical resemblance to a ponzi scheme.



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