Woman dupes chit fund depositors of Rs 50 lakh
Hyderabad: Many residents of Prem Nagar Colony lodged a police complaint today against a woman who had allegedly duped them by collecting nearly `50 lakh on the pretext of a chit business.
Punjaguta police said one Chinta Ratna Kumari collected amounts in the range of `10,000 to `2 lakh from several depositors. 'From December last, she had not been giving any payments to depositors,'police said.
Ratna Kumari had reportedly developed friendship with locals by selling sarees in Prem Nagar. After developing confidence with many residents, she lured them to invest in her chit business.
After around 13 years of running the business, she recently started giving irregular payments. Out of more than 50 depositors, 33 approached Punjagutta police to lodge a complaint. Police said a cheating case was registered against Ratna Kumari and investigation is under progress.
News Posted: 30 March, 2011
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