Peddapuram resident Elugubanti Chakrapani allegedly escaped with about Rs.2 crore of chit fund money. He is a native of G. Ragampeta village in Peddapuram mandal of Kakinada district. He owns a house and land in the village. So, the many local residents and acquaintances trust him and join his chit business. Chakrapani reportedly collected around Rs. 2 crore from them and later fled to Yeleswaram. Several villagers tried to contact him multiple times, but in vain. Eventually, they lodged a complaint with Peddapuram Sub-Inspector Mounika. She initiated an inquiry. According to the victims, around 100 people approached the police station to report against Chakrapani.
