Message given on chit fund scam by SEBI officer

Heartbeat

A seminar was organised by SEBI at Gwalior Police Training School to guide students about chit fund. Piyush Kumar Pandey from Securities and Exchange Board of India (SEBI) said chit fund has been named as Ponzi scheme by SEBI which is type of fraudulent investment operation. He said many people who get trapped into the greed by these companies are not aware. The Ponzi scheme usually attracts new investors by offering higher returns than the investments in short-term which doesn’t have any guarantee.

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