Woman who had decamped with Rs. 80 lakh chit fund, gold arrested

Woman who had decamped with Rs. 80 lakh chit fund, gold arrested

July 13, 2021

Mysore/Mysuru: A woman at Sathagalli,  who was running a chit fund business and allegedly duped over 200 people to the tune of Rs. 80 lakh and  200 grams of gold pledged by the investors, has been arrested by Udayagiri Police. The woman had reportedly gone on a tour and the Police have arrested her at Belur in Hassan district.

The con-woman is 58-year-old Hemalatha, who was residing at a house behind Saibaba Temple in Sathagalli for the last five years. She used to run cheeti and would request women to invest in the monthly investment business. And trusting her as she was a long-time resident of the area, many women invested money. Some have pooled in lakhs of rupees, as high returns were promised. Many women have even pledged gold ornaments without the knowledge of their husbands.  

Following a complaint filed by a resident of Sathagalli, who was cheated by Hemalatha, Udayagiri Police, who registered a case, conducted investigation and based on the clue that Hemalatha was on tour, managed to trace her at Belur and arrested her. Police said that the accused, after collecting money from investors, used to go on foreign tours and also tourist destinations in the country. She was produced before a Court, which remanded her to judicial custody.


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