Police in Adilabad said Unique Mercantile India Limited managing director Raj Kumar Roy was arrested over an alleged chit fund fraud involving around 10,000 people across Telangana. Investigators allege Rs 7 crore was collected from 2,000 investors in Adilabad district alone
In Hanamkonda, a four-member gang running an illegal chit fund was arrested. Police seized cash, gold and documents. Over 28,000 people were cheated of Rs 11.39 crore. Police have frozen Rs 5.48 crore and urged public caution
Nikshipta Chit Fund Company directors, Sangisetty Karunakar and Moola Umamaheswar had gone absconding after switching off their cell phones without paying Rs 2.17 crore due to 42 subscribers
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 allegedly cheated people of Rs 4.50 crore in the guise of a micro chit fund business in Malkajgiri, police said on Wednesday. The suspects were Naresh, a resident of Sri Krishna Sai colony and his relative S.Prakash, a resident of Vishnupuri colony, who were running the chit fund business by collecting investments […]
Warangal: With the arrest of the chairpersons of three private chit fund companies for alleged irregularities in payment of the prized subscribers and other issues, many victims have been making a beeline to the police commissioner’s office here for the last two days. Hailing the arrest, they are also appealing to the police to ensure […]
