Chirala: Chit organiser held for swindling deposits worth Rs 2.68 crore
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Chirala: Prakasam police have arrested a woman and her two children for cheating the people to the tune of Rs 2.68 crore in the name of chits.
Speaking at the Inkollu police station, OSD, K Chowdeswari said that they that the Chinaganjam police received a complaint from Kurri Radha of Sopirala village in the Chinaganjam mandal on September 4. She complained that she and many others were cheated by Polakam Jhansi Lakshmi in the name of chits.
The police conducted the investigation on the complaint and found that Polakam Jhansi is also a resident of Sopirala village. She is in the chits business for nearly 25 years and the people believed her claims of having a license from the government.
She collected deposits assuring higher interests and chit amounts from a total of 73 people accounting to a total of Rs 2,67,89,450 and misappropriated them.
The OSD said that the Inkollu CI, P Subbarao investigated the case under the supervision of the Chirala DSP Srikanth and arrested the accused Polakam Jhansi Lakshmi, her daughter Lakkakula Kavitha and son Polakam Venkata Krishnarao for colluding together to cheat the public.
The police seized photocopies of the land documents and a diary in which the transactions of the chits were recorded.