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Chit fund organisers arrested
Highlights
The city police here on Saturday arrested the organisers of Udayatara Chit Fund Company for cheating the people and collecting money illegally from them. According to reports, police took the organisers of chit fund into their custody. Â
Vijayawada: The city police here on Saturday arrested the organisers of Udayatara Chit Fund Company for cheating the people and collecting money illegally from them. According to reports, police took the organisers of chit fund into their custody.
Police said that the chit fund organisers Vishnumohan and his wife Kanakadurga did not repay Rs 3 crore for customers. They collected money from the customers but failed to repay the money after maturity period. The investigation is on, police said.
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