Chit fund fraudster vanishes with crores of rupees

Chit fund fraudster vanishes with crores of rupees

Mangalore Today News Network

Mangalore, Mar 28, 2012 : A fraudster who allegedly cheated several people, found missing since Wednesday, March 28. Narendra Kamath had been running a chit fund business at Dongerkery, Mangalore for over six years is absconding since few days. His victims were mostly autorickshaw and taxi drivers. He used to collect money from them either at autorickshaw stands or from their houses.

 

 

 

A number of autorickshaw and taxi drivers trusted him and deposited as much as Rs. 20,000 to Rs. 30,000 in his chit fund. Since he has been doing this for the past six years, nobody suspected him.

Recently, his clients noticed that his rented house near Ganapathy Temple in Dongerkery was locked and that he has gone missing with crores of rupees belonging to autorickshaw drivers.

A case has been registered at the Bunder police station.