Alleged cheating by chit fund company

Alleged cheating by chit fund company

October 11, 2018

Investors to lodge complaint

Mysuru:  Alleging that a few people were running a chit fund business without licence and cheating many people to the tune of lakhs of rupees, the investors have decided to lodge a complaint against N. Gurumurthy alias Raju, his wife Preethi, brother-in-law Manju and son-in-law Shashikumar of Srirampura at Ashokapuram Police Station in this regard.

Addressing a press meet at Pathrakartara Bhavan here yesterday, retd. Railway employee T.S. Hanumantharayappa, Ananda Basavaraju and Rudrappaswamy of Srirampura and J.P. Swamy of Vijayanagar alleged that Gurumurthy was running the chit fund business since 10 years and they had invested lakhs of rupees in the chits trusting him.

They further said that, Gurumurthy, after conducting the business for eight years without any problem, stopped the chit all of a sudden last February and fled with the investors’ money. A case was filed at the 5th JMFC Court in Mysuru and the Court had sent the same to Ashokapuram Police Station, where the Inspector had filed an FIR, they added.

Continuing, the investors alleged that when the Police went to Gurumurthy’s house and enquired, his wife and others said that they had nothing to do with the chit fund besides giving evasive replies. They also said that Gurumurthy had cheated many in the same way. They urged the Police to arrest the accused and provide them justice.

Lawyer N.S. Harishkumar was present along with the investors during the press meet.


Mysuru’s favorite and largest circulated English evening daily has kept the citizens of Mysuru informed and entertained since 1978. Over the past 45 years, Star of Mysore has been the newspaper that Mysureans reach for every evening to know about the happenings in Mysuru city. The newspaper has feature rich articles and dedicated pages targeted at readers across the demographic spectrum of Mysuru city. With a readership of over 2,50,000 Star of Mysore has been the best connection between it’s readers and their leaders; between advertisers and customers; between Mysuru and Mysureans.


Academy News Papers Private Limited, Publishers, Star of Mysore & Mysuru Mithra, 15-C, Industrial ‘A’ Layout, Bannimantap, Mysuru-570015. Phone no. – 0821 249 6520

To advertise on Star of Mysore, email us at

Online Edition: [email protected]
Print Editon: [email protected]
For News/Press Release: [email protected]