Couple owing RS 40cr commits suicide

TUMAKURU:   The suicide of a couple running a chit fund in Koratagere on Tuesday came as a shock to the people who had invested with them. Prabhavathi (44) was found dead in her bedroom after consuming poison while her husband Ravi (48), an accountant with BESCOM, hanged himself in a separate room in their house.

The couple were jailed some months back on charges of cheating hundreds of people including a few people’s representatives and had come out on bail. They owed over `40 crore to investors from Tumakuru, Kolar, Chikkaballapura, Bengaluru rural districts and Hindupur of Andhra Pradesh. The chit fund sufferred losses after demonetisation, said sources.