4 arrested in Margadarsi chit fund fraud case

The CID registered FIRs under Sections 120(B) (criminal conspiracy), 409 (criminal breach of trust), 420 (cheating) and 477(A) read with 34 (falsification of accounts) of the Indian Penal Code, Section 5 of Andhra Pradesh Protection of Depositors in Financial Establishments Act, 1999 and Section 76,79 of Chit Funds Act,1982.