‘Socialite owes less than ₹10 cr. to a few people’

Contrary to the allegations that socialite Shilpa Chowdary duped several persons of hundreds of crores, Cyberabad police, who took her into custody for questioning, found that the former owes less than ₹10 crore to a handful of people.

Speaking to The Hindu, a senior official that Ms. Chowdary collected money from people on the promise of high returns and used to give monthly interests.

“She collected money from her kitty party friends for interest monthly rate of 5% and give it on a higher interest rate of anywhere between 7 and 9%. That 2 to 4% was her commission,” the officer said.

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Printable version | Jan 20, 2022 10:05:33 AM | https://www.thehindu.com/news/cities/Hyderabad/socialite-owes-less-than-10-cr-to-a-few-people/article37846007.ece

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