The Adugodi police have arrested a father-son duo for cheating the public of crores of rupees through their private chit fund business.
Ravindra of Lakkasandra had lodged a complaint with the police stating that Anasuyamma, her husband Nagaraj and son Vikram Reddy had been running a private chit fund business. He said that he had been cheated by the trio of Rs 12 lakh.
Police said the family had cheated several residents of the area in similar fashion. They collected money from customers every month at exorbitant rates of interest and failed to repay them.
The family had cheated people to the tune of Rs two crore, at least, they said. The trio have vacated their house in Lakkasandra and have fled.
Adugodi police have arrested Nagaraj and Vikram, while Anasuyamma, the main accused, is still at large.
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