Monday, March 23, 2026
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Culprits still at large in chitfund fraud case worth Rs 1500 crore

Jamshedpur: Despite passage of over nine months, Jadugora police have failed to crack a major scam involving fraud worth Rs 1500 crore. Cops are yet to lay their hands on two accused, Kamal Singh and Deepak Singh, both brothers, in this case.

The delay in arresting of the accused persons has led many people to doubt the sincerity of police officials. They suspect the chitfund activities run by Kamal Singh and his brother which led to cheating and fraud of such a whopping amount were tacitly supported by certain police officials.

The accused persons, sons of Munmun Singh and Rajmani Devi, residents of Dharamdih in Jadugora police station area, had alleged opened a chitfund company and duped people of their hard-earned money. They were reported absconding since 23rd September 2013. More than 200 people have registered case of cheating and fraud against the brothers with the Jadugora police station.

Sources said several agents were involved in the fraud. Most of these agents are traceless at present.
A Jadugora resident Prakash Singh had lodged an FIR against Munmun Singh with Jadugora police station under Negotiable Instruments Act and cheating. He was jailed with his wife in Chaas.

Police got warrants issued against several agents in this case. Local residents doubt police sincerity due to police inaction even after request by a large number of local residents to take action against the chitfund company during a police public meeting held on 30th January in the year 2013.

The accused persons came under scanner when they refused to return the money invested by the people of Jadugora. Soon people doubted the intentions of the accused persons and booked them for cheating and fraud.

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