VIJAYAWADA: The Krishnalanka police have Tuesday night arrested Kommuri Patel and Jasti Venkateswara Rao, one of the managing directors and an employee respectively, of Shubhadarsi Estates chit fund company in connection with the cheating case.
Central zone ACP K Lavanya Lakshmi, in a press meet at the Krishnalanka police station Wednesday said that Patel and Venkateswara Rao of the chit fund company were caught in a car near Prakasam barrage. She added that the vehicle in which they were travelling has also been seized.
“So far we have received 180 complaints from investors and the estimated fraud committed is about `9 crore. We have registered cases,” Lavanya Lakshmi said.