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A man from Andhra Pradesh, Pullaiah, was arrested on March 24 in Bengaluru for his involvement in a chit fund scam in Hyderabad’s SR Nagar and Madhura Nagar. The accused, a native of Anantpur district, had been absconding since the scam was reported and was finally apprehended by authorities.
Pullaiah had collected crores of rupees from unsuspecting victims, promising lucrative returns through his chit finance business in these areas. After gathering the funds, he fled, leaving the victims in the lurch.
The victims filed a complaint with the Central Crime Station (CCS), leading to an investigation and the registration of a case against Pullaiah. He is now being brought back to Hyderabad where he will be produced before a court.
