Naga woman held from AP for conning investors at Rs 11 crore

Last Updated: Wednesday, August 1, 2012 - 23:55

Hyderabad: A woman from Nagaland was on Wednesday arrested from Vijaywada in Andhra Pradesh on charge of duping investors to the tune of Rs 11 crore through a money circulation scheme, police said.

Rosemary Jamir, secretary of Tropogan Farmers` Society from Dimapur in Nagaland, who is one of the accused in the case, was picked up from Vijayawada by a CID team, they said.

Rosemary had appointed 7 executive members for Andhra Pradesh for the purpose of collecting funds from unsuspecting investors, who in turn through the network of 52 agents amassed Rs 24.70 crore and disbursed Rs 13.70 crore to gain confidence of investors before winding up their firm and disappearing with Rs 11 crore.

An office was established at Dilshuknagar here which was maintained for about 8 months before it was shut down, police said.

Hyderabad: A woman from Nagaland was on Wednesday arrested from Vijaywada in Andhra Pradesh on charge of duping investors to the tune of Rs 11 crore through a money circulation scheme, police said.

Rosemary Jamir, secretary of Tropogan Farmers` Society from Dimapur in Nagaland, who is one of the accused in the case, was picked up from Vijayawada by a CID team, they said.

Rosemary had appointed 7 executive members for Andhra Pradesh for the purpose of collecting funds from unsuspecting investors, who in turn through the network of 52 agents amassed Rs 24.70 crore and disbursed Rs 13.70 crore to gain confidence of investors before winding up their firm and disappearing with Rs 11 crore.

An office was established at Dilshuknagar here which was maintained for about 8 months before it was shut down, police said.

CID has identified several properties in this regard, which will be attached, while further investigations are on, according to a CID release.

PTI



First Published: Wednesday, August 1, 2012 - 23:55

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