Chit fund company branch manager arrested for fraud

A CORRESPONDENT

LAKHIMPUR, April 19: Lakhimpur district administration on Thursday sealed the office and seized the documents of a chit fund company named Dhubulia Aid Life Mahila Swanirbhar Welfare Society.

Police arrested its self-styled state inspector Johirul Islam, who was also the branch manager of the company, and sent him to jail. The company, with fake registration under the district administration of Nadia in West Bengal, had been expanding its business in Lakhimpur by establishing its office at Ward No. 8 of the town. It expanded its business by granting loans to the women SHGs. The company collected Rs. 300 as registration fees from each SHG at first and then Rs 10,000 to Rs 20,000.

A social organization named Anti-Corruption Youth, Assam got information about how the company was cheating people and a 15-member team of the organization, led by its central president Dharma Kanta Gogoi and Lakhimpur district president Bhadrajit Dutta, informed North Lakhimpur police. The team detained Johirul Islam and handed him over to the police.