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The gullible depositors have again been duped. Promising higher interest on savings, a private financial company had allegedly collected crores of rupees from the locals with its official finally doing a vanishing act.
Reports said the company, which started its operations a few years ago, had engaged about 800 locals to spread its network in the district.
Till January last, people expecting higher gains went on depositing money. During that month, some depositors of Papadahandi block had approached the local branch on maturity of their fixed deposits, but returned disappointed.
Their second and third visits too proved futile making them suspicious. They caught hold of the local agents demanding an explanation only to be told that the latter too had been cheated with no salaries paid to them since long.
The regional manager of the company tried to save the situation by giving false assurances, when flooded with queries. With nothing coming through, the depositors took up the matter with Collector Yamini Sarangi recently. They submitted a written complaint against the company.
Meanwhile, the Collector has asked the SP to initiate legal actions against the company and asked the District Labour Officer to look into the matter of those local agents, who had not been paid their salaries.
A notice would soon be issued to the regional manager of the company, who is reportedly staying at Umerkote.
Besides, Sarangi also ordered for a detailed investigation into the functioning of non-government financial institutions in the district.
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