Chit Fund Scam Sparks Uproar, Victims Protest

A major chit fund fraud has come to light in Budvel, under Rajendranagar in Rangareddy district. A family allegedly collected large sums of money from several people in the name of chit schemes and fled overnight, leaving investors in distress. Victims claim that the couple escaped with nearly ₹5 crore.

According to reports, the accused, identified as Ashok, locked their house on Saturday night and absconded along with his family. Aggrieved victims gathered outside the residence and staged a protest, demanding immediate arrest of the accused. Police have registered a case and initiated an investigation into the incident.