₹7 Crore Chit Fund Fraud Sparks Protest in Pulivendula

A man named Shivakashi, who used to be a teacher, ran a chit fund in Pulivendula, Andhra Pradesh.

He promised high interest and collected money from about 100 people.

He stopped paying them back and locked his house.

The investors found a notice saying he was threatened by lenders.

They gathered outside his house and protested, asking for their money back.

The police heard their complaints and said they would investigate.

They said a case has been registered.

The police also said more than 150 people might be affected.

The protest shows how people can be hurt by fraud.