Hyderabad: One more victim of an illegal micro finance agency in Nalgonda district lost his life on Monday. With this, the total number of people, who lost their lives, went up to four.
Pathi Ramesh, a native of Pathi Thanda of Peddavoora mandal in Nalgonda district, died of heart stroke. He slipped into depression after he invested hugely in the micro finance agency, which duped the investors.
The accused Ramavath Balaji Naik and Madhu Naik were arrested in Nalgonda following a massive financial scam, defrauding hundreds of people of approximately Rs.50 to Rs.68 crore by promising 10 to 18 per cent monthly interest.
The relatives of Ramesh staged a protest in front of Vijayapuri police station demanding stern action against those involved in the scam.
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