Bhubaneswar, December 24: Odisha Chief Minister Mohan Charan Majhi on Tuesday claimed that he was also a victim of chit fund scams and urged people to be aware of the activities of ponzi firms to save their hard-earned money. Majhi said this while addressing a function to celebrate the State Level National Consumers Day here. "I was also a victim of chit fund scams. Two firms had duped me in 1990 and 2002," the chief minister said, adding that he could not get back his money as the process of recovering the money was too long and too lengthy. Ponzi Scheme Operator Had Received Rs 360 Cr in Bank Accounts; HC Denies Him Pre-arrest Bail.

Describing his experience, Majhi said he was influenced by the sweet talks made by the ponzi firm agents and arranged money to deposit in certain schemes. "However, when the maturity period came, I could not find the companies where money was deposited," he said. IMA Ponzi Scam: Karnataka Government Transfers Multi-Crore Case to CBI.

The chief minister, however, said there has been a lot of change now as the Centre has formulated and strengthened regulations to stop cheating and duping of consumers.