An unauthorised chit fund organiser allegedly cheated gullible depositors to the tune of Rs.2 crore and fled with the money.
The accused, P. Pydamma, who was running an unauthorised chit fund firm at Jalaripeta and Pedawaltair areas under Three Town Police Station limits in the city, fled after collecting over Rs.2 crore. The victims approached Police Commissioner Amit Garg and submitted a memorandum to him.
The 50-year-old woman had collected the amount from around 160 persons by promising them hefty returns, according to the victims. They also alleged that the police did not register a case though they had approached them a few days ago.
