Subedari Police in Hanumakonda district arrested Akshara Chit Fund Director Perala Srividya at Bengaluru airport and produced her before a court, following which she was remanded to judicial custody. The arrest was made late last night as she arrived from the United States.
Police confirmed that she was taken into custody and later shifted to Narsampet jail after being presented before the Hanumakonda district judge.
Complaints from chit fund subscribers trigger action
The case relates to multiple complaints filed by hundreds of subscribers of Akshara Chit Fund. Victims alleged that despite the completion of their chit tenure, the company management failed to return their money, leading to accusations of cheating and financial fraud.
Following the complaints, cases were registered at Subedari Police Station, and an investigation was initiated into the operations of the chit fund firm.
Earlier cases against Chairman Srinivas Rao
Police had previously registered several cases against Akshara Chit Fund Chairman Srinivas Rao and had sent him to jail twice. In two additional cases, both Srinivas Rao and his wife, Perala Srividya, were named as accused.
Authorities stated that the couple had been evading arrest for some time. Srividya was detained when she landed at Bengaluru airport while returning from the United States.
Police confirm remand and transfer to jail
Subedari Inspector Ranjith said that after the arrest, Srividya was brought to the Hanumakonda district and produced before the court. The court remanded her to judicial custody, and she was subsequently transferred to Narsampet jail.
The investigation into the financial fraud case involving Akshara Chit Fund is ongoing, with police examining complaints filed by affected subscribers.
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