HYDERABAD: The Mahankali Police which had a few days back registered a case against Rishab Chit Fund owner Sailesh Gujjar and wife Nandini for cheating investors to the tune of Rs 200 crore, on Wednesday transferred the case to Hyderabad Central Crime Station, following which several of the duped turned up before the station demanding justice.
The couple is understood to have spent the amount collected from investors in drinking and gambling at casinos in Goa.
Preliminary probe revealed the duo had amassed over Rs 200 crore by promising potential investors of high returns.
The police have registered cases under IPC Sections 420 (cheating), 406 (criminal breach of trust) and Section 5 of the Telangana State Protection of Depositors of Financial Establishments Act 1999.
The victims who gathered before the Central Crime Station staged a protest demanding that their money be returned immediately and that the accused be brought to book.
Investigators said details of the accused’s business activities were being collected and scrutinised.
Sleuths are also trying to trace the depositors’ money and find out where the couple has invested the cash.
Complainant M Santosh Kumar said he trusted the firm as its owners claimed the company has been operational for the last 20 years in the city. He has invested Rs 5 lakh in the chit fund.
The firm stopped taking calls from investors after a point. Several victimd Express spoke to said the couple had convinced them to part with their lives’ savings