Hyderabad, Sept. 27 -- A government teacher in Telangana's Suryapet allegedly duped people of Rs 12 crore in a chit fund scam and fled.

Following the incident, victims staged a protest outside the accused's residence on Sunday, September 27, demanding justice. They approached the police, seeking a refund.

The accussed, Banoth Raju, a resident of Enaganti Thanda under Lakshminayak Thanda in Chivvemla mandal, is working at a school in Shettigudem of Atmakur (S) mandal.

Raju had reportedly been operating chit funds for at least 10 years. According to the victims, he gained their trust by promising returns higher than bank interest and also operated a daily-collection finance business for traders in Suryapet and surrounding areas.

In a vi...