Rise of the ‘Cheat’ Fund Business

Illegal financiers and chit fund fraudsters are becoming a major threat to the financial security of the common citizens. A number of unregistered small and big finance firms have mushroomed in the city of late. While in January, Medisetty Chit Funds had cheated its customers to the tune of `1 crore, many other cases were reported this year involving small firms based in the city.

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