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Ameenpur couple goes missing after Rs 2 crore chit fund scam

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activePonzi / Investment SchemePan India

Ameenpur couple goes missing after Rs 2 crore chit fund scam

Cyberabad police registered a case against a couple operating from BSR Colony in Ameenpur, Sangareddy, after they allegedly defrauded local residents through an illegal chit fund scheme. According to investigators, the couple started collecting money from investors in 2023, promising high returns on their investments.

State

Multiple States

First reported

August 2026

Agency involved

Cyberabad Police

Arrests

None (accused are on the run)

Charges or sections cited

Sections 420 and 406 of the Indian Penal Code, and Section 5 of the Telangana Protection of Depositors of Financial Establishments Act

Status

Under inquiry; police are searching for the absconding couple

The full story

Everything you need to know about this case, in one place.

The scheme unraveled when the organizers failed to disburse payments on schedule, stalling returns for nearly two years. Complainants alleged that the couple gathered approximately Rs 2 crore in total, taking amounts between Rs 2 lakh and Rs 5 lakh from individual participants.

A group of 13 affected individuals filed a formal police complaint on a Monday in August. Before authorities could intervene, the couple sold their residential property in the colony and went into hiding with their phones turned off. Police officials stated that the investigation is still in its early stages while a search for the fleeing couple continues.

Not yet reported: The articles do not state whether authorities have managed to freeze any bank accounts or assets belonging to the accused.

Where the case stands

The latest position in the reports we read.

The case is in the inquiry stage, and police have launched a search operation to locate the absconding couple.

Who was affected

Described in general terms; we do not name victims.

Around 13 residents of BSR Colony in Ameenpur who invested sums ranging from Rs 2 lakh to Rs 5 lakh each.

Timeline

Key dates as reported, oldest first.

2023The accused couple allegedly began operating the chit fund scheme in BSR Colony.

August 3, 2026Around 13 individuals filed a police complaint after payments were withheld.

How the scam worked

The method described in the reports.

The organizers set up a chit fund collection scheme within a residential colony, targeting local residents.
They induced participants by promising high financial returns on the money invested.
The organizers collected sums ranging from Rs 2 lakh to Rs 5 lakh per person over a period of time.
They stalled payouts to investors for up to 25 months before the scheme collapsed.
The organizers sold their house and absconded with the pooled funds once complaints began to mount.

Targeted by something similar?

Call 1930 (free, 24x7) straight away, then file at cybercrime.gov.in. Money reported in the first hours is far easier to freeze.

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Keep reading

More cases like this one.

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Sources and further reading

Optional. The full story is above; these are the original reports it was prepared from.

siasat.comOriginal report The Siasat DailyOpens via Google News

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