A cheating case was registered against the two owners of M/s Sri Rishab Chit Fund India Private Limited in Mahankali police station on Sunday.
Cheating case registered against the chit fund owners in Mahankali PS limits
According to V Jayapal Reddy, SHO, Mahankali, M Santosh Kumar(39, private employee,resident of Shah gunj chowk) filed a complaint in which he stated that the accused Shailesh Gujjar(56,business, old Bhoiguda) and Nandini cheated him by collecting cash on the name of fixed deposits, chits and absconded by not paying the matured amount.
Similarly he started another Rs 5 lakh chit of 25 months on April 10, 2016 which was ended on May10,2018.
After completion of the chits term the accused was not repayed the matured chit amounts to the complainant. When he got doubt he pressurised the accused to repay the chit amounts but the accused threatened him by saying if he force him he would commit suicide.
At last he promised the complainant to come and collect the amount on December 2. When he went to his residence at Secunderabad, he found that from November 30 the accused and his family members absconded by locking the door.
Police found that the accused also cheated many more members.
The accused cheated Anne Netra(35, house wife, Dilsukhnagfixed) for an amount of Rs 15 lakh, G Shanker( 49 , private employee, Puranapul) for Rs 2 lakh and Rs 60,000 and U Kiran( 33 , photographer, old Bowenpally), for Rs 10 lakh and Rs 5 lakh and P Rushikesh (33 , Ziyaguda) for Rs 4 lakh.
Based on the complaint police registered a case against them under section 420, 406 IPC, & Sec-5 of Telangan State Protection of Depositors of Financial Establishments act 1999 and were investigating.