Hyderabad woman cheats 200 investors in Rs 3 crore chit fund scam

A woman from Shanthi Nagar, Hyderabad, allegedly cheated around 200 investors in a Rs 3 crore chit fund scam. Running the scheme for 14 years, she reportedly failed to return deposits and has gone absconding. Police have launched a search

Hyderabad: A woman has allegedly cheated around 200 investors to the tune of Rs 3 crore in a chit fund scam. The suspect, Swapna from Shanthi Nagar, who had been running a chit scheme in Sanathnagar for the past 14 years, reportedly failed to return deposits collected from members and has gone absconding.

The victims lodged complaints at Jubilee Hills police station, leading to a case being registered.

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The police have launched a search to trace the woman.