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Andhra Pradesh
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Hyderabad
Chit fund members ‘duped'
Staff Reporter
HYDERABAD: A housewife operating chit fund business from home had allegedly duped 40 investors of nearly Rs. 70 lakh in Punjagutta, the police said on Tuesday. Forty-year-old Ch. Ratna Kumari had been running chit fund business for the past 13 years. She started evading payments on maturity of the chits promising good returns in the form of interest, the Punjagutta Inspector K. Ashoka Chakravarthy said. Ms. Kumari is from a village near Narsapur in West Godavari.Few days ago, she suddenly shifted to her village without clearing payments to the investors. Forty persons, who deposited money with her, approached police.
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