Hyderabad, 3 August
Ameenpur Chit Fund Scam: Couple Goes Missing After Allegedly Duping Investors of Rs 2 Crore
The Ameenpur Chit Fund Scam has come to light after a couple from BSR Colony in Ameenpur, Sangareddy, allegedly collected nearly Rs 2 crore from local residents through a chit fund scheme before disappearing. The Cyberabad police have registered a case and launched a search operation to trace the accused.
According to the police, the accused have been identified as Sirisha and Sambasivarao, who allegedly started operating the chit fund in 2023 by promising attractive returns to investors. Initially, the scheme reportedly gained the trust of residents, leading several people to invest substantial amounts.
The Ameenpur Chit Fund Scam surfaced when investors stopped receiving payments as promised. Complainants alleged that the couple delayed returns for nearly 20 to 25 months, despite repeatedly assuring investors that the money would be repaid.
Speaking about the case, Ameenpur Police Station Sub-Inspector Madapathi Prabhakar said the couple allegedly collected around Rs 2 crore from residents, with individual investments ranging between Rs 2 lakh and Rs 5 lakh.
Police said 13 investors approached the Ameenpur police station on August 3 and lodged formal complaints after failing to recover their money. Based on the complaints, authorities initiated an investigation into the Ameenpur Chit Fund Scam and began gathering evidence.
Investigators revealed that the couple allegedly sold their house in BSR Colony before going missing. Their mobile phones have been switched off, and their whereabouts remain unknown. Police have collected the Aadhaar details of the accused as part of the ongoing efforts to establish their identity and trace them.
A case has been registered under Section 420 (cheating) and Section 406 (criminal breach of trust) of the Indian Penal Code, along with Section 5 of the Telangana Protection of Depositors of Financial Establishments Act.
Police said the investigation is still in its early stages, and officials are verifying financial transactions, investor statements, and other evidence related to the Ameenpur Chit Fund Scam. Additional complaints may also be examined as the inquiry progresses.
Authorities have appealed to anyone who invested in the scheme or has information about the accused to contact the police and assist with the investigation.