Man held for embezzling chit fund money, two on run
Rayagada: Police arrested a person on charges of misappropriating chit fund amount at Ambadala village in Rayagada district.
The accused, identified as Ram Chandra Rao, was arrested on basis of the complaint lodged by one Sanjukta Sahoo.
According to police, Ram Chandra along with his daughter and son-in-law had formed a chit fund group a few months ago to provide loans to the women of the village for business purpose.
The trio collected around Rs 25 lakh from 18 women but did not provide loans to anyone of them. Following this, Sanjukta lodged a complaint against the three accused persons for embezzling loan amount and duping them.
While police arrested Ram Chandra, his daughter G Santoshi and G Suresh fled the village.
A case (124/18) under Sections 194, 420, 34 of the IPC has been registered against Ram Chandra and forwarded to the court, the police said, and added that efforts are on to nab the other two accused in this case.