The Hindu·3 min read·medium
Two private investment firms under scanner for likely ponzi schemes
T
The Hindu Bureau
✦AI Summary
Belagavi district authorities are investigating two private investment firms, Growdhan LLP and City Index, over allegations of running Ponzi schemes. Officials found that thousands of investors had deposited significant sums of money under the guise of loans and debentures.
Officers of the Belagavi district administration have launched investigation against two private investment firms following allegations that they collected crores of rupees from the public by promising unusually high monthly returns.
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