VISAKHAPATNAM: The Fourth Additional Chief Metropolitan Magistrate, T Venkat Rajesh Kumar, on Monday sentenced Manyala Varalakshmi to two years of simple imprisonment and a fine of Rs 10,000. In case of any default in paying the penalty, the convicted should undergo two months of imprisonment for cheating Varalakshmi Chit Subscribers or Seven Hills Hospital staff.Additionally, Varalakshmi received a sentence of one year of simple imprisonment and a fine of Rs 5,000 (in case of default, one month of imprisonment) for conducting unauthorized chits.
According to Senior Assistant Public Prosecutor (APP) Mylapilli Adinarayana, the accused, Manyala Varalakshmi, used to conduct unauthorized chits in Gollalapalem of the Pithanidibba Area in the city. The victim Siriki Leelavathi and eleven other of the corporate hospital staff joined as chit subscribers, each paying Rs 13,000 per month. The accused did not return the prize amount to the subscribers, thereby deceiving them of a total amount of Rs 18 lakh. Victim Siriki Leelavathi complained in January 2020 at the Three Town Police Station. Sub-inspector J Dharmendra investigated and filed the charge sheet. The prosecutor proved the case of cheating and conducting unauthorized chits beyond reasonable doubt under section 420 IPC and section 76 of the Chit Fund Act.
According to Senior Assistant Public Prosecutor (APP) Mylapilli Adinarayana, the accused, Manyala Varalakshmi, used to conduct unauthorized chits in Gollalapalem of the Pithanidibba Area in the city. The victim Siriki Leelavathi and eleven other of the corporate hospital staff joined as chit subscribers, each paying Rs 13,000 per month. The accused did not return the prize amount to the subscribers, thereby deceiving them of a total amount of Rs 18 lakh. Victim Siriki Leelavathi complained in January 2020 at the Three Town Police Station. Sub-inspector J Dharmendra investigated and filed the charge sheet. The prosecutor proved the case of cheating and conducting unauthorized chits beyond reasonable doubt under section 420 IPC and section 76 of the Chit Fund Act.
