SOT Police arrested Hyderabad couple for Rs 50 Cr Fraud

A couple from the city who were running a chit fund and allegedly collected Rs 50 crore from residents and are said to have fled to Switzerland were arrested by the Special Operations Team (SOT) Police on Saturday. 

Pabba Chandrasekhar (51) and Swapna (42) left their home on June 22 and have been untraceable since cutting off communication on July 8. Kushaiguda police stated that there was no evidence to confirm whether they left the country.

Chandrasekhar had been



running Sri Venkateshwara Marketing, a cement finance and chit fund firm in Kushaiguda, for three decades. Victims alleged he borrowed large sums, citing his daughter’s marriage and family health issues. 

One complainant, B. Sabita, said he took lakhs from locals, while another, G. Satyanarayana, claimed he collected Rs 50 crore from over 70 people before disappearing. Malkajgiri police commissioner B. Sumathi confirmed a case has been registered and financial records are being examined.