The Enforcement Directorate (ED) has attached assets worth Rs 47 crore, which belonged to chit fund company, Fine Indisales. The attached properties included land worth Rs 19 crore in Mumbai and bank deposits of Rs 28 crore in Kanpur, Uttar Pradesh.
Fine Indisales was running business in Odisha, Karnataka and Chhattisgarh. It had branches in Cuttack and Baleswar. Over 2,50,000 people were allegedly duped by the company. The CBI had busted the chit fund scam, involving MLM company Fine Indisales, way back in 2009.
Visually impaired actor-turned producer Naseer Khan, used the money collected by Fine Indisales to produce films through his production house Great Entertainment. Naseer was arrested in October 2009, but was released on bail. Fine Indisales had duped 2.5 lakh investors of Rs 578 crore. The Odisha Crime Branch had frozen bank accounts of the company with deposits of over Rs 191 crore.