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Hyderabad: Residents of Nalgonda set a house of a local moneylender on fire on Monday morning, accusing him of cheating them of Rs 10 crore.
According to angry residents, Balaji Naik disappeared after collecting the large sum from more than 300 people by fraudulently promising high-interest returns.
Although a police complaint was filed and the case went to the courts, there has been no action so far, the victims alleged.
Tensions prevailed after angry victims stormed Naik’s house, vandalised furniture and ignited personal belongings.
On information, police rushed to the spot and pacified the protestors.
The local police did not respond to Siasat.com calls.
This post was last modified on October 7, 2025 7:42 pm