Chit fund fraud: Two arrested for duping people in Hyderabad

Hyderabad: Two persons, who allegedly duped several persons after collecting money towards a chit fund business, were arrested by the Hyderabad Detective Department on Tuesday. The arrested persons, M. Tulasi Dass and M. Karthik Kumar, both residents of Shiva Sai Nagar colony in Uppuguda, were operating the Om Ganesh private chit fund company illegally for […]

Hyderabad: Two persons, who allegedly duped several persons after collecting money towards a chit fund business, were arrested by the Hyderabad Detective Department on Tuesday.

The arrested persons, M. Tulasi Dass and M. Karthik Kumar, both residents of Shiva Sai Nagar colony in Uppuguda, were operating the Om Ganesh private chit fund company illegally for the last few years and collecting money from people every month.

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“They collected between around Rs.4 crore from public and went absconding in February,” Joint Commissioner of Police (Detective Department) Gajarao Bhupal said. Based on a complaint from the victims, a case was booked and the two were arrested and produced before court.

 

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