📷 Image: Wikimedia Commons / Brocken Inaglory
Crime
CID probes ₹10,000 crore multi‑state chit‑fund fraud
✍️ Hindustan Times
🗓 25 Aug 2026, 10:02 AM
👁 5
The Criminal Investigation Department has opened an inquiry into a chit‑fund scam spanning several states, with alleged losses estimated at around ₹10,000 crore.
The Criminal Investigation Department (CID) has formally launched a probe into a massive chit‑fund fraud that is believed to have affected investors across multiple Indian states. Preliminary reports suggest that the scheme may have amassed liabilities of roughly ₹10,000 crore, making it one of the largest financial scams in recent years.
Investigators are focusing on the network of promoters who allegedly collected money from the public by promising high returns through a chit‑fund model. The CID has said that the operation spanned at least five states, though the exact list of affected regions is still being compiled.
Officials have not disclosed the names of the individuals or entities under scrutiny, but they have assured that forensic accounting and digital forensics will be employed to trace the flow of funds. The department has also urged victims to cooperate with the investigation and refrain from taking the law into their own hands.
Chit‑fund scams have periodically surfaced in India, prompting tighter regulatory oversight. This latest probe underscores the continued vigilance of law‑enforcement agencies against large‑scale financial fraud that jeopardises the savings of ordinary citizens.
Investigators are focusing on the network of promoters who allegedly collected money from the public by promising high returns through a chit‑fund model. The CID has said that the operation spanned at least five states, though the exact list of affected regions is still being compiled.
Officials have not disclosed the names of the individuals or entities under scrutiny, but they have assured that forensic accounting and digital forensics will be employed to trace the flow of funds. The department has also urged victims to cooperate with the investigation and refrain from taking the law into their own hands.
Chit‑fund scams have periodically surfaced in India, prompting tighter regulatory oversight. This latest probe underscores the continued vigilance of law‑enforcement agencies against large‑scale financial fraud that jeopardises the savings of ordinary citizens.