Private savings society swindles Rs 80 lakh of depositors in Miryalaguda

Miryalaguda (Nalgonda): A private savings society embezzled lakhs of rupies of poor people of Miryalaguda town who had deposited their hard earned income believing they would get huge return in future.

The issue came to light when many victims lodged complaint against the society orally against the managers of the Sneha Samakya Mutual Aid Savings Society- Krishnaveni, Bixam and Venkateshwarlu who had embezzled Rs 80 lakh from 100 members in the name of chits and deposits with lucrative offers to members. However, the police refused to act said that they would act when the victims file written complaint.

The victims locked the office of the Savings Society located at Edulla Guda in the town and went on a rampage.

Although months have passed since the savings were made, the victims were informed that the savings society managers are not giving them the money.

It is noteworthy that many of those who made savings in the Sneha Samaj Savings Societies were daily wage labourers. The victim with full of tears informed that the money they had accumulated was swindled by organisers of Pragathi Society.

Speaking to Hans India, Miryalguda One Town CI Srinivas informed that few women approached the police station and brought the matter to his notice orally and later the same women informed him that they will settle the issue through discussions when police personally interacted with organisers on the complaint of women.

It is learnt that organisers of the society asked time till Saturday to settle the matter amicably.

CI Srinivas informed that he will file a case on society organisers if any one lodges a complaint against them in the written form.