The Economic Offences Wing (EOW) of the Crime Branch and the police have seized cash worth Rs 1 crore, 1.662 kg gold and 208.840 kg silver coins and other valuable items from different chit fund companies between 2012 and June, 2014, official sources said.
About 163 fraud financial institutions have collected Rs 4,565 crore as deposits from the people, said Finance Minister Pradip Kumar Amat. As many as 422 cases have been registered against such fraud companies and chargesheets have been filed in 332 of these cases, he added.
While the EOW has lodged 30 cases, 412 cases have been made by the police in different districts, the sources said, adding that 666 persons have so far been arrested in connection with the illegal chit fund activities.
Among the major seizures made by the Government agencies were: large number of documents, 24 four-wheelers, a pickup auto, seven two-wheelers, nine industrial units, two farmhouses, a godown, 164 plots, residential and office buildings over 815.194 acre of land.
All the movable and immovable properties have been seized for confiscation as per law, Amat said, adding that the Government has frozen bank accounts of such ponzi companies having deposits of Rs 218 crore.