Visakhapatnam City Police has busted a huge financial fraud by Sneha MACS

NOB_Visakhapatnam City Police has busted a huge financial fraud by Sneha MACS

NOB-Visakhapatnam news: In Visakhapatnam city, for the past few years, a company called “Sneha MACS” (Sneha Mutually Aided Co-operative Society Ltd.) has been collecting deposits from the public by promising high interest rates, diverting the amounts for personal gain and benami companies, and purchasing immovable properties in Visakhapatnam and other districts. The middle class people are mainly among those who have made deposits mainly due to the spread of the ideologies of Dr. B.R. Ambedkar. Based on the complaints of depositors, a case has been registered against Sneha MACS in various police stations in the city and 22 people belonging to Sneha MACS have been taken into custody.

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