Chit Fund Fraud: Hyderabad Police arrests GPO employee

Hyderabad: Central Crime Station of Hyderabad City Police arrested a postal employee who was indulged in cheating many people in the name of chit fund.

According to the report of the police, V. Ravi Krishna lodged a complaint with Abids Police Station against J. Satyanarayana Reddy who was working as a postal assistant at GPO Abids.

Police informed that Satyanarayana Reddy was running chit fund business illegally. He collected Rs. 80 lakh from 50 members with a promise to double their amounts.

He had fled away in 2014 after collecting money from the members. He was wanted by the police.

Abids Police arrested and presented him in the court of law. The magistrate sent him to judicial custody.

–Siasat News