Woman arrested for ‘duping’ depositors of chit fund firm

₹35.54 lakh recovered from the accused, a former employee

A woman was arrested by the Prakasam police on Monday for allegedly cheating depositors of a chit fund firm of ₹ 76.64 lakh over a period.

Presenting the accused— K. Drakshavathi (45) — before the media, Superintendent of Police Siddharth Kaushal said , she had collected lakhs of rupees from gullible depositors and issued them unused manual receipts before making good her escape. She had kept the money and the fraud came to light when the customers approached the firm for repayment of their deposits.

On a tip off, the Ongole Central Crime Station(CCS) and the Ongole Taluka police arrested her.

''We were able to do some justice to 23 of the victims from Ongole and Korisapadu by recovering ₹35.54 lakh from the arrested woman, a former assistant manager with the chit fund firm,” the SP said and asked the investors to doubly verify before putting their hard-earned money in such firms.

Breakthrough

Police also achieved a breakthrough in a series of robberies with the arrest of five persons who used to divert the attention of passengers by dropping coins when the autorickshaw reached remote places and also threaten to finish them off if they offered resistance, before decamping with the booty. Articles worth ₹1 lakh were recovered from the accused — J. Srinivasa Rao (37), B. Atchanna (65), R. Anjaneyulu (26), J. Krishna(35) and S. Ankamma Rao (24), the SP said.

They were involved in six cases, one each in Vijaywada and Gudivada in Krishna district, Vinjamuru in SPSR Nellore district and H.M. Padu in Prakasam district and in two cases under Ongole Taluka police station limits.