Visakhapatnam: Shipyard employee accused of chit fund fraud of 3 crores nabbed

On Thursday, 17 October 2022, the Visakhapatnam City Police arrested a shipyard employee who absconded with Rs 3 crores he robbed from his colleagues. According to the police, Nilagiri Ravi Kumar, a welder, collected Rs 20-25 lakh from around 300 employees each in the name of a chit fund and fled from the city four months ago.

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According to the victims, Ravi Kumar trapped them in the name of a chit fund and gained their trust over some time. The shipyard employees deposited a fixed amount with the fraudster every month on their payday until the amount summed up to Rs 3 crores. Upon realising that he escaped with the money, the victims searched for him and discovered that he was residing in Kakinada with his wife a month ago. When they demanded that he must return the money, the couple warned them that they would complain against them to the police for harassment.

Later, the shipyard employees who got duped approached the Malkapuram Police Station and narrated the series of events. The Visakhapatnam Police initiated an investigation and learnt that Ravi Kumar’s brother-in-law, Chalapathi, works as a driver at the Kakinada Superintendent of Police office. They convinced Chalapathi to hand over Ravi at the Malkapuram PS and arrested him on Thursday.

The Visakhapatnam City Police are currently investigating the fraudster to recover the money he robbed from his colleagues at the shipyard.

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