Odisha's Chief Minister reveals he was scammed by chit funds twice, urging citizens to avoid Ponzi schemes.

Odisha Chief Minister Mohan Charan Majhi disclosed on December 24, 2024, that he was scammed by chit funds in 1990 and 2002, losing money due to lengthy recovery processes. Addressing a National Consumers Day event, Majhi urged citizens to be wary of ponzi schemes and protect their savings, highlighting the importance of vigilance and awareness against fraudulent investment schemes. He noted that though he faced difficulties recovering his funds, the government has since strengthened regulations to prevent such scams.

3 months ago
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