Four members of a trust involved in money circulation were arrested by the CID on Saturday and property worth Rs. 3 crore was seized from them.
The CID Additional Director General, S.V. Ramanamurthy, said the trust, headquartered in Nellore, was collecting money from public with a promise to repay double the amount in six months. Its members defrauded hundreds of crores of rupees and absconded a year ago. Four of them Thota Srinivasulu, Akiligunta Suvarnaraju, Cherukuri Yesurathnam and Nallagatla Ananda Rao – were held in Chennai.