A GHMC corporator and her husband were booked by the Neredmet police on charges of money laundering and cheating.
An advocate Mekala Srinivas Yadav accused the couple and one Mahesh of running illegal chit fund business. They have been lending huge amounts under the name of a spurious chit fund company to various persons by going against the norms, police quoting Mr. Yadav said. The corporators husband was circulating money in the construction field, selling properties in fictitious names and entering into partnerships without any sanction, purporting financial solution to the general public on higher interest rates, loans against instruments such as cheques, property documents, agreements, and indulged in illegal activities of fraudulent use of fabricated documents, and cheated them, the complainant alleged.
Based on his complaint, a case was registered and a probe is on.
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