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Chit organiser dupes customers of Rs 2 cr in Yadagirigutta

Chit organiser dupes customers of Rs 2 cr in Yadagirigutta
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The police on Wednesday registered a case of cheating against a woman who organised chits unauthorizedly allegedly dupeed as many as 50 persons to the...

Yadagirigutta: The police on Wednesday registered a case of cheating against a woman who organised chits unauthorizedly allegedly dupeed as many as 50 persons to the tune of Rs 2 crore. The incident took place at historic place of Yadagirigutta and it came to light on Wednesday.

According to police, a woman, Uma Prabhakar Reddy, who hailed from Sriramnagar of Yadagirigutta, had organised chit fund business for the last 25 years. Earlier, she did cloth business. After building confidence of her ability among her customers, she started organising chits.

She used collect money for chits, ranging between Rs 1 lakh and 5 lakh. She kept postponing payment of chit money to the customers for the last six months under one or other pretext. The customers lodged a complaint with the police after the woman fled.

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