Acting on a tip off, a special police team of the city police raided the office of the Kolkata-based firm at the Meghalaya Urban Development Authority (MUDA) complex in Police Bazaar.
According to the police the four were detained based on inputs received that these persons, running the company, are yet to get any clearances from the local authority and also from the Reserve Bank of India.
"We have detained four persons on suspicion that they are running a fake chit-fund company," Additional SP V Syiem told PTI.
Police sources informed that the company has been in operation for the past two years and more than 200 people have already made cash deposits with the company.
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