A fraudster who used to run a chit fund has escaped with nearly 5cr. rupees collectively of the daily wages workers at Vijaypur. The workers who had saved the money for their future, their kid’s education, marriage and other dreams have been cheated by a fraudster to whom they collectively deposited nearly 5cr. rupees.

A special report about the chit fund fraudster is here in the InNews.

The women in the above pictures are the residents of Nageshwar Colony of Vijaypur. Since 5 years these women used to deposit money to the chit fund since two years the chit fund was on top as lakhs together money was getting deposited and this chit fund business was being run by Danappa Lalagi. The same person has now slipped away with all the money deposited by these women. The women of the area have besieged the house of the accuser saying he has escaped with the money of more than 120 women and are forcing to repay the money.

The chit funds are mostly run in the local areas and they won’t be having any proper documents.

The whole business runs on the faith among the people and the one who runs the business. Most of the times this kind of business is led by a woman but here in the Nageshwar colony the women fell into a trap by including a male in their team or group, and now the fraudster has escaped with more than 4cr. rupees. The most of the women in this group are from poor family background those were saving money for the purpose of their kid’s education and marriage.

The women have registered a case about this in the Golgumbaz Police Station. Most of the time such cases won’t succeed as there won’t be any proper documents about this business.

If this case won’t succeed then no doubt many children will get cheated by the opportunity of the education and many families will come to the roads.