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Police issue LoC against woman

Highlights

Police issued a Lookout Circular (LoC) against a woman on Wednesday, who allegedly duped the residents of Defence Colony in Secunderabad to the tune of Rs 10 crore, in the name of chit funds.

- Aruna had duped subscribers of `10 crore
- Victims approach cops for justice

Hyderabad: Police issued a Lookout Circular (LoC) against a woman on Wednesday, who allegedly duped the residents of Defence Colony in Secunderabad to the tune of Rs 10 crore, in the name of chit funds.

The Neredmet police had received complaints from some 50 residents of the Defence Colony that the woman named Aruna Reddy (50), who was residing in the same locality for the past 30 years had collected the money from them and was absconding since April 25. The independent, double-storied building in the colony where she lived remained locked for the past few days. Realising that they had been deceived, the victims approached the police station and lodged a complaint.

Speaking to The Hans India, victims Sashidhar Reddy, Radha, Sesha Ratnam and Raghu Rami Reddy said that there were about 200 members in all who were duped by the woman.

Each one of them may have lost from Rs 8 lakh to Rs 40 lakh respectively. Unfortunately, some of the victims who were out of station did not know of the fraud yet.

Aruna Reddy and her husband Raghunath Reddy, who is an ex-hawaldar, were natives of Mahabubnagar district, settled in Hyderabad nearly 30 years ago. They started a private chit fund business. Four years ago, their daughter Vaishnavi (working in Australia) was married in an extravagant ceremony. Ever since her daughter’s marriage, Aruna started dilly-dallying on the payment of the chit fund amount and interest to the bidders.

The funds were allegedly diverted to Bengaluru where Vaishnavi’s father-in-law Hemantha Reddy, a builder was constructing a multi- complex building. Under immense pressure from her subscribers, Aruna had promised to repay the entire amount before May 3 but fled in the meantime. The victims requested the authorities to freeze the bank accounts and seize the fixed assets of Aruna.

D Praveen Babu, Investigating Officer, Neredmet police station said a ‘lookout circular’ (LOC ) has been issued to all the Airports and Immigration authorities, along with pictures of the family to prevent them from leaving the country. “We are making all efforts to nab the culprits at the earliest,” said Praveen Babu.

Ch Saibaba

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