CAG's encounter with a scamster

In a rare public appearance, Comptroller and Auditor General of India Shashi Kant Sharma recalled a 20-year old incident where he met a scamster, who had duped investors by running a network of chit fund schemes. The man, who was on his way to the jail, explained his business model saying how most of his investors were from poor households in rural areas and about 70 to 80 per cent of them were unable to produce their investment receipts at the end of the investment period as these were somehow lost in the sun and the rain. When asked why these people still deposited the amounts, the scamster told Sharma, "Laalchiyon ke gaon mein thug kabhi bhookha nahi rahe sakte (in the village of the greedy, conmen never go hungry)."