New Usury Scam Surfaces in Nagar Kurnool District

Nagarkurnool: Another usury incident has come to light in Nagar Kurnool district. In Nadigadda village of Telakapalli Mandal, a man named Zaheer alias Chote Mia had been collecting money from known minorities in the village over the past few years, promising high interest. He would collect the money, deposit it, and then pay interest to the lenders. However, for the past year, he has been evading repayment of both the principal and interest, making various excuses to the victims.

Recently, it came to the villagers' notice that the number of people who had invested their money with him had risen to around 150 to 200. All the investors being minorities raised suspicions. When the victims approached him for repayment through intermediaries, he absconded.

Realizing they had been cheated, the victims decided to file a complaint at the Nagar Kurnool district police station. On Monday, they met with District SP Gaikwad Vaibhav Raghunath during the Prajavani program and lodged their complaint. They explained to the SP that they had invested their hard-earned savings with Chote Mia, hoping for good returns, only to be defrauded. They pleaded with the SP to apprehend him and recover their money.

The police have registered a case and are investigating the matter. Just a few days ago, an usurer named Saibaba defrauded victims of over 50 crores by promising high returns. Before this incident could be forgotten, another usury scam has come to light in the district. The recurrence of such incidents is causing concern among the public. It remains to be seen how the police will respond to this situation.