Jamshedpur police nab mother–daughter in Rs 50 lakh chit fund scam
Jamshedpur, Dec 9: The Sidhgora police in Jamshedpur have arrested Shilpa Rai and her daughter Saina Rai, who had been on…
Jamshedpur, Dec 9: The Sidhgora police in Jamshedpur have arrested Shilpa Rai and her daughter Saina Rai, who had been on the run for eight months after allegedly cheating investors of nearly Rs 50 lakh through a chit fund scheme.
The duo, accused of collecting hefty deposits from dozens of people before disappearing, was produced in court on Tuesday and sent to judicial custody.
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The case originated from a complaint filed on April 10 by Baridih resident Murli Rao, who reported that the two lured investors with promises of high returns.
After gaining the trust of multiple depositors, they allegedly fled with the money. The accused hail from B/35, Indira Road, Bagun Nagar, Baridih.
Police had been tracking them since the FIR was lodged and later learned that they had escaped to West Bengal.
Acting on a tip-off, a special team traced them to Kolkata and arrested them.
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Police officials said several more victims have come forward, and the fraud amount may exceed Rs 50 lakh.
Investigators are now probing where the siphoned money was routed and whether others were involved in the scheme.
