Hyderabad woman dupes investors of Rs 10 crore in chit fund scam

The Chandrayangutta police on Friday registered a cheating case against a woman for duping several investors to the tune of Rs 10 crore in a chit fund scam. The woman was identified as Anjali Devi.

Anjali Devi, a native of Andhra Pradesh moved to Patel Nagar in Hyderabad with her husband Babu Rao, a retired employee of CRPF. Their two children were settled in the United States. Anjali Devi started the chit fund business and several years ago and gained the trust of many people.

However, this time, she fled with her husband with Rs 10 crore after several investors deposited the money. The investors who recognized as being cheated alerted the police. As many as 85 investors approached the Central Crime Station (CCS)joint commissioner.

The police registered a case and launched a manhunt to nab the couple. It is learned that there are 300 investors who were cheated by the couple.