Chit fund scam busted, wife and husband arrested

Hyderabad: Central Crime Station of Hyderabad City Police arrested MD of Rishab Chit Fund Private Limited, Silesh Kumar Gujjar and his wife, Nandini Gujjar.

Addl. Commissioner of Police (CCS), Mr. G. Jogaiah informed that Silesh and his wife had established Rishab Chit Fund India Private Limited in 2009. They collected more than Rs. 60 crores from 500 persons but failed to distribute profits after the expiry of the period.

They invested the collected money in gambling and other business.

Mr. M. Santosh, a resident of Shah Gunj lodged a complaint of breach of trust under Telangana State Depositors’ Act. Police arrested Salesh and his wife. The accused were sent to judicial custody.

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