Prime Accused In Chit Fund Scam Held At Airport
Seetha, a resident of HMT Hills in KPHB, had allegedly collected crores of rupees under the guise of chit schemes and fled to America without repayment.
HYDERABAD: Veda Seethamma alias Seetha Veda, prime accused in a case allegedly involving collection of large sums of money from the public through chit fund schemes and failing to repay them, was taken into custody by immigration officials upon arrival at the Rajiv Gandhi International Airport here on Monday.
Seetha, a resident of HMT Hills in KPHB, had allegedly collected crores of rupees under the guise of chit schemes and fled to America without repayment. Victims filed a complaint at KPHB police station, which registered Crime No. 1080/2026 on August 24 regarding ₹16 crore. The accused include prime accused Seetha, her husband V. Ramana Reddy and their daughter Veda Harisha Reddy. Investigations revealed they operated without authorisation and collected up to ₹40 crore from nearly 60 individuals, partly as loans at interest.
KPHB police arrested Ramana Reddy on September 16 and produced him before court. As Seetha had gone abroad, officials issued a look-out circular issued for her. On Snday at 4.23 am, immigration officials identified her on arrival from Abu Dhabi, detained and handed her over to KPHB police.
Given the scale of financial transactions, the case was transferred to the Cyberabad economic offences wing (EOW) police and re-registered as Crime No. 111/2026. The investigation was underway under the Bharatiya Nyaya Sanhita, Chit Funds Act, 1982, and the Telangana Protection of Depositors Act, 1999.