Rs. 20 Lakh Chit Fund Fraud: Gikul Police Arrests Accused

HUBBALLI: The Hubballi Police have arrested a man, who is accused of cheating hundreds of people in the name of chit fund.

The person identified as Ramesh Nagaloti of Lakkundi, allegedly duped residents of Ramalingeshwara slum of Rs. 15 to 20 lakhs. He was arrested from Akshay Park area by the Gokul Police.

The accused allegedly collected Rs. 2000 from every household for chit fund by promising good returns.

The victims in large number gathered outside Gokul Police station soon after the news of his arrest was spread.

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