VIJAYAWADA: The state CID has said that recent checks in 37 branches of Margadai Chit Fund Pvt Ltd across Andhra Pradesh have unearthed many irregularities and, for the fit time, “we found ghost subscribe” by way of the company impersonating common citizens.
Addressing the media on Sunday, additional DG, N Sanjay, said a large number of subscribers coming up with complaints of nonpayment of prized chit money and undue harassment for sureties. This has necessitated the booking of FI at various police stations, he said.
So far, three FI were registered in Anakapalli, Chirala, and Rajahmundry. A peon named Subramanyam claimed that though he never approached Margadai and never deposited any amount, the company records showed that he participated in an auction in the Chirala branch in Bapatla. CID officials found that the company had fraudulently used Subramanyam’s Aadhaar details without his knowledge. A related video was also shown to the media.
He said a WhatsApp number - 9493174065 to receive complaints of chit-cheating including those related to Margadai has been operational. He advised the public to make use of this service to lodge complaints.
Addressing the media here, IG for stamps and registrations, V Ramakrishna, said that for the last three days, teams of the stamps and registration department visited all 37 branches of Margadai Chit Funds in AP to verify records related to certain complaints received from subscribe. During these verifications, several irregularities have come to light -- like running of chit membership without the knowledge of peons by impersonating common citizens (ghost subscribe). In some cases, branch managers have fraudulently siphoned off the money of subscribers.
Sanjay said an FIR was registered in Anakapalli town police station following a complaint from one Venkateswara Rao alleging Margadai has cheated him by paying only Rs20 against a chit of Rs4.60 lakh. In a similar incident, an FIR has been registered upon receipt of a complaint from one Korukonda Vijaykumar at Rajahmundry two-town police station. Some branch managers were arrested in these three cases.
Sanjay claimed that the CID has received over 100 complaints against Margadai and all those were being investigated before registering an FIR.
