Illegal chit fund operators are defrauding investors across Hyderabad, Cyberabad, and Rachakonda by collecting large sums and disappearing overnight. Police have registered multiple cases, but recovery of funds remains a lengthy legal process.
As the properties of the chit fund company were seized recently, customers started mounting pressure on Rajaiah for their money. Unable to tolerate the pressure, he resorted to the extreme step
A woman allegedly made an attempt to suicide after the owner of an unregistered private chit reportedly refused to pay her Rs 3.5 lakh even after she completed payment of the chit
Hanamkonda: A chit fund company has allegedly cheated a subscriber by delaying the payment even after winning the chit in the auction. A resident of Gokul Nagar in Hanamkonda, Satla Puninder subscribed two chits Rs 10 lakh each in December last year from a Mandira Chit Funds Private Limited of Huzurabad town in Karimnagar district. […]
Hyderabad: Several persons approached the Chatrinaka police alleging they were cheated to the tune of nearly Rs.3 crore by a retired Assistant Sub-inspector and his son in the guise of a chit fund. Police sources said one Tulasiram, a retired ASI from Uppuguda along with his son Karthik, have been running the chit fund business […]
Hyderabad: The Marredpally police booked a case against Bhavani Chit Funds Private Limited on charges of cheating depositors. The company located in Marredpally had reportedly collected huge amounts from depositors and later shut down operations recently. On coming to know about it, several depositors visited the office of the company in the last couple of […]
