Dry Fruit Trader Held for Cheating Chit Subscribers
During the inquiry, police found that another subscriber, Pintu Kumar, who had invested Rs 2 lakh in the same chit, was also allegedly cheated in a similar manner. Goshamahal police said the accused has been produced before the court. Police appealed to other possible victims of similar chit schemes operated by the accused to approach Goshamahal police station with supporting documents to aid the investigation.
Hyderabad: The Goshamahal police arrested dry fruits seller Motiram for allegedly operating illegal chit fund schemes and cheating subscribers of lakhs of rupees. Police said Motiram, a resident of Chaknawadi, was arrested on Thursday in connection with the case registered under BNS and Chit Funds Act.
The arrest was based on a complaint by Goutham Chand Solanki, who stated that he joined a chit fund operated by Motiram on June 8, 2022, and paid a total of Rs 2 lakh over 20 months, after being assured that the chit amount would be disbursed after completion of nine months. However, after the period ended, the accused failed to repay the promised amount of Rs 2.25 lakh and ultimately refused to return the money on May 31, 2026.
During the inquiry, police found that another subscriber, Pintu Kumar, who had invested Rs 2 lakh in the same chit, was also allegedly cheated in a similar manner. Goshamahal police said the accused has been produced before the court. Police appealed to other possible victims of similar chit schemes operated by the accused to approach Goshamahal police station with supporting documents to aid the investigation.