The Bhadrachalam police has filed a case against the wife of a retired APSRTC conductor for allegedly duping 400 people of Rs 2 crore.
Annem Samrajyam, wife of Venkatappayya of Asoknagar colony in Bhadrachalam, had allegedly cheated people in the name of a small-scale savings business or chitties.
The entire con came to light on Tuesday when the victims lodged a complaint with the Bhadrachalam ASP, Dr Gajarao Bhupal, the district collector and the police superintendent.
According to sources, Samrajyam has been conducting a private chit-fund business illegally in Bhadrachalam for the past 20 years.
At least 400 people paid ‘premiums’ from Rs 50,000 to Rs 1 lakh each. She allegedly drew the amount in the name of fictitious persons.
According to the complaint filed, Samrajyam had evaded payment of Rs 2 crore to the 400 victims so far. She had made the last payment two months ago and stopped since then.
The victims also alleged that she would threaten those who would ask for their money to be returned.
As per the complaint filed, Samrajyam amassed assets by hundreds in the name of the savings business. She is absconding, while further probe is on.