Jagtial trader goes missing amid debt claims
JAGTIAL: A grocery trader from Vijayapuri Colony in Jagtial has been missing for the past week after allegedly facing pressure from creditors who had been demanding repayment of their money.
Trader allegedly borrowed from dozens at high interest
The trader, who has been running a grocery shop and a chit fund business on Vijayapuri Road for nearly 30 years, is alleged to have borrowed money from around 60 to 70 people by promising high returns. Sources said investors and chit subscribers had been pressing him for repayment for some time, following which he reportedly went missing a week ago.
Creditors find house registered in another person’s name
Victims said the trader’s mobile phone has remained switched off since his disappearance. When creditors visited his residence to verify details, they were reportedly shocked to learn that the property had already been registered in another person’s name.
According to local sources, the trader had invested money in online investment platforms. Following the closure of several such online apps recently, many investors have suffered losses, leaving several people in financial distress. Some are also reportedly absconding.
