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Chit organisers charged with duping investors:

A couple reportedly fled after collecting around Rs.5 crore through an unauthorised chit business.

Ch. Bhaskar Rao and Sarojini of R.V. Nagar area at Akkayyapalem had launched a chit business. They developed good relations with residents and gained confidence of those belonging to their own community and enrolled them as members. The couple and their team made the vanishing trick after securing a huge amount from the members.
Around 20 victims approached the DIG (Visakha Range) P. Umapathi, who is also in-charge Commissioner of the city, and told him their tale of woe.
Mr. Umapathi said that the case would be entrusted to the Crime Wing Police.

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