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After Call Money, Bezawada poor duped by chit fund

Fri, Jul 22, 2016, 12:49 PM
The financial woes of the poor in Vijayawada is an unending story. Even before many families had recovered from the Call Money racket, which was exploited in full by the racketeers, the city was faced with a chit fund company run by one Nagaratnam.

The woman played a con trick on the people by running the chits regularly. As the confidence of the poor people increased and more joined the chit fund, Nagaratnam waited for the accumulation of a big amount. When the chits touched the huge figure, she closed the shop and disappeared overnight.

It is estimated that Nagaratnam made good her escape with a figure exceeding Rs 2 crore.
Agency: Ap7am Desk

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