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Cop’s wife siphons off chit money, disappears
Wife of constable working in Central Excise Department allegedly duped her neighbours in the name of chit fund and made good around Rs 50 lakh. Following complaints by the victims, the Two-Town Police on Sunday registered a case against the woman and her nephew.
Visakhapatnam: Wife of constable working in Central Excise Department allegedly duped her neighbours in the name of chit fund and made good around Rs 50 lakh. Following complaints by the victims, the Two-Town Police on Sunday registered a case against the woman and her nephew.
The police are yet to assess the total fraud in the case. Inspector of Two-Town GV Ramana said that the accused A Varalakshmi, who is the wife of A Satya Rao, a constable in the Central Excise Department, ganged-up with Satish Kumar, who is the nephew of Satya Rao, and floated illegal chits business.
The police said the duo has collected Rs 2 to Rs 3 lakh from each of the depositors and it is estimated that the collection could range up to Rs 50 lakh. Both Varalakshmi and Satish have been missing since three months. Nearly 10 women victims had lodged a complaint against the duo and the police launched a hunt of the duo.
“We have registered a cheating case against the duo under Chit Funds Banning Act,’’ said Ramana.
