Woman cheats 50 to tune of Rs 4 crore in Hyderabad

HYDERABAD: Several victims, who had lent huge sums of money to a woman and were promised huge interest, approached the Hayathnagar police on Sunday. The victims allege that the woman, Poolamma, has duped more than 50 to the tune of Rs 4 crore and is now absconding. 

According to reports, Poolamma is a resident of Pragati nagar of Hayathnagar. She had told people that she was starting a business for which, she borrowed money from several people in the locality. As surety, she had also signed on promissory notes and even gave them blank cheques. Initially, she paid interest to some people even when it was at a high rate. After seeing this, more people lent her money at high interest rates. Soon, she stopped the interest to the people. When the lenders demanded their money,  she fled from the place.