Three women booked an illegally run chit fund and lent money at exorbitant interest rates

The Central Crime Branch (CCB) has registered an FIR against three women for allegedly running an illegal wallet fund and lending money at exorbitant interest and threatening the borrower and her family for repayment.

The accused have been identified as Susheelamma, 50, Rakshitha, 33, and Navaneetha, 26. All three are residents of Sri Veerallappaswamy Nilaya in Vinayaka Layout, Hulimangala, Bengaluru.

According to the complaint filed by Tejaswini DS, Deputy Registrar Chit Funds, Bengaluru Urban District, the accused allegedly lent ₹16.09 lakh to the complainant without the required license and tried to recover excessive interest.

The complainant claimed that she had already repaid ₹38.60 crore to the accused. Despite this, they allegedly pressured her to pay an additional ₹ 26.09 crore, including the required principal of ₹ 16.09 lakh and ₹ 10 lakh as interest.

The accused allegedly threatened to kill the complainant and her family if the amount was not paid. They also allegedly threatened to use their political connections and police influence to harass her.

The FIR was registered under Sections 39 and 41 of the Karnataka Money Lenders Act, 1961; Sections 3 and 4 of the Karnataka Prohibition of Charging of Excessive Interest Act, 2004; and Section 318(4) of the Bharatiya Nyaya Sanhita.

The CCB is investigating the alleged illegal collection and the amount recovered from the complainant.

Published – 05 Oct 2026 18:59 IST