We have received many complaints over the operation of ghost subscribers and agents in the Margadarsi Chit Funds Private Limited (MCFPL), and unearthed huge irregularities during our investigations, say Additional DGP, Crime Investigation Department (CID), N. Sanjay, and Inspector General of Registration and Stamps Department V. Ramakrishna.
Addressing the media at the A.P. Police Headquarters at Mangalagiri, near here, on August 20 (Sunday), the officers said that irregularities such as non-payment of chit amount, insistence on sureties, and siphoning off money by the branch managers had come to light during their verifications.
Based on the complaints lodged by the gullible subscribers, joint teams had conducted inspections in 37 MCFPL branches across Andhra Pradesh and verified the records, Mr. Sanjay said.
