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Hyderabad: The Cyberabad police on Monday, August 3, booked a couple who are on the run in Ameenpur, Sangareddy, after they allegedly duped residents of BSR Colony promising high returns via a chit-collecting fund.

Sub-Inspector Madapathi Prabhakar of Ameenpur police station told Siasat.com that the couple, identified as Sirisha and Sambasivarao, began the chit fund scam in 2023.

The issue surfaced when investors were not paid on schedule as promised.

“This has been going on for three years now, since 2023,” said SI Prabhakar, adding that the couple stalled paying the returns “for 20-25 months,” according to the complainants. The couple allegedly collected Rs 2 crore from the residents via the chit fund, he said, having collected Rs 2-5 lakh per person.

“Around 13 individuals filed the complaint this morning (August 3),” said Prabhakar. The couple has been on the run since selling their house in the BSR Colony. They remain untraceable as their mobile phones are also switched off, the police said. Several complaints from investors prompted the authorities to register a case and launch a search operation for the accused couple.

The SI said not much is clear about the case as the authorities are still in the inquiry stage. The police collected the Aadhaar cards of the accused to establish their identity.

A case has been booked under Sections 420 (cheating and fraud) and 406 (criminal breach of trust) of the Indian Penal Code, as well as Section 5 of the Telangana Protection of Depositors of Financial Establishments Act.