Hyderabad: Woman dupes investors to the tune of Rs 10 crore in chit fund scam

Hyderabad: The Chandrayangutta police arrested a woman on charges of duping several investors to the tune of Rs 10 crore in a chit fund scam here on Friday.

She was a woman native of Andhra Pradesh and was identified as Anjali Devi.

As reported by The Hans India, she moved to Patel Nagar in Hyderabad with her husband Babu Rao, a retired employee of CRPF, while her two children were settled in the United States.

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The woman was running the buissness from 10 years now and gained the trust of many people. The woman however, had promised the gullible of higher returns for their investment and collected huge amounts but failed to pay the promised returns and then disappeared.

As many as 85 investors have approached the Central Crime Station (CCS)joint commissioner.

The police registered a case and launched a manhunt to nab the couple.

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