Police nab chit fund organiser, aides

Police nab chit fund organiser, aides

Chirala DSP Srikanth explaining about the arrest of the accused chit fund organiser and seizure of property documents, at Chinaganjam on Thursday


Cash and property worth `2 crore seized from Narahari Harikrishna

Chirala: The Chirala sub-divisional police arrested the chit fund organiser, who allegedly cheated his subscribers for an amount of about Rs 8 crore and filed an insolvency petition in the court to evade the pressures to repay the money. The police also arrested some of his aides and seized documents of 11 properties from their possession.

On April 3, a group of people informed 'The Hans India' in Chinaganjam that there are about 1,000 subscribers of various chits organised by Narahari Harikrishna of Sopirala village in Chinaganjam mandal. They alleged that the organiser was not paying the chit amount to them even after they won the chit, and the organiser offered that he will pay interest for the chit amount. 'For the last few months, Harikrishna didn't pay any of the chit amounts to the winners and when they asked him about the money, Harikrishna threatened them.'

The subscribers became worried as they received notices from the court that the chit organiser lost the total money in prawns' business and has assets worth Rs 3,000 only. At the suggestion of 'The Hans India', the subscribers filed a complaint with the police on the same day and requested justice.

As 'The Hans India' published the ordeal of the chit subscribers, and the police received complaints from victims, Bapatla SP Vakul Jindal ordered Chirala DSP Srikanth to launch an investigation under the supervision of Inkollu CI P Subbarao.

The Chirala DSP said in a press meet at Chinaganjam police station on Thursday, that the team of Inkollu CI arrested five of the nine accused, including Narahari Harikrishna, Narahari Sitamahalakshmi, Narahari Deepti, Narahari Naveena and Kunchala Venkata Mahesh Babu for involving in the crimes under section 420 r/w 34 of IPC, section 5 of AP Protection of Depositors and Financial Establishment Act 1999, and section 76 of Chit funds Act.

Based on the confessions of the accused, the police also seized Rs 6,36,000, 28 grams of gold jewellery, 420 grams of silver ornaments, registration documents of 11 properties and one Royal Enfield motorcycle, total worth of Rs 2 crore.

The DSP appreciated CI P Subbarao, SI P Nagababu, and their team of constables for arresting the accused and informed that they will continue the investigation and arrest the absconding people soon.

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