Hyderabad: Man arrested for cheating co-workers of Rs 30 lakh

Hayathnagar police arrested B Ramachandar, who allegedly cheated 20 co-workers of Rs 30 lakh under the pretext of chit funds. He also misused credit cards, vacated his house, and absconded. Police booked a case after a complaint from one victim

Hyderabad: A man who allegedly cheated his co-workers of Rs 30 lakh under the pretext of chit funds was arrested by Hayathnagar police on Tuesday.

The suspect, B Ramachandar (47), a resident of Munuganoor in Hayathnagar, while working at a popular shopping mall in Peddamberpet, allegedly collected money from around 20 employees in the name of chit schemes.

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He also misused others’ credit cards, causing a total loss of about Rs 30 lakh. After committing the fraud, he quit his job, vacated his house, and went absconding.

Based on a complaint from one of the victims, Balakrishna, Hayathnagar police booked a case and arrested Ramachandar.