Rishabh chit fund scam accused held in Hyderabad

The owners of Rishabh chit fund who duped the people to the tune of Rs 70 crore has been arrested by the police from their residence in Boiguda.

Shailesh Gajjar and Nandini Gajjar who went absconding after defrauding the people have detained by the police on Thursday based on the complaint lodged by a private employee on December 12. The couple set up the company in 2009 and got registered. They began to collect the money from the people and transferred it to casino business at Goa where they suffered huge losses.

The police have seized their house, office, documents and frozen the bank accounts. The accused will be produced before a local court.