Ameenpur couple flees after ₹3 crore chit fund fraud
AMEENPUR: A couple allegedly collected about ₹3 crore from residents through chit funds and fled after selling their house in BSR Colony, police said.
Shireesh and Sambashiva Raju, originally from Guntur, had been living in BSR Colony in Ameenpur for several years. They ran a clothing store named Sai Ganesh Textiles and also operated chit funds.
Investors allege non-payment after chit funds mature
According to the complaint, the couple collected monthly contributions from participants but failed to pay them the amounts due after the chit funds matured.
The couple allegedly collected about ₹3 crore from participants before selling their house and leaving the area without informing anyone.
Police register case after victims lodge complaint
After realising that they had allegedly been cheated, the victims approached police and lodged a complaint.
Police registered a case and began an investigation.
