Chit fund scam against Malayalee-owned firm in Delhi
New Delhi: Allegations have been raised against few Malayalees over a chit fund scam here. Talking to Mathrubhumi News, some of the victims said that for the past three years they are being cheated by the owner of a chit fund company.
It is being alleged that Royal Chit Fund, owned by Changanassery native KS Kunjumon, has been cheating people over the years. The firm has been functioning here for over 10 years. Crores of rupees of many Malayalees who had joined chits and deposits have been swindled.
Royal Chit Fund had stopped returning the money to the investors three years back. However, with the connections of Malayalee associations, this was dragged on for three years, the victims said.
The owner had said that he is into ship dismantling business in Kerala and everyone’s money will be paid at once in full. He had even handed over signed cheques to many.
Some of the victims have approached court. They are also gearing up to lodge a complaint with Kerala Chief Minister and DGP.
However, Kunjumon responded that the demonetization resulted in his business failure and he will pay back everyone soon with interest.