Andhra Pradesh has been rocked by the ‘illegal racket’ scandal which has seen a lot of political leaders being dragged into it. Police have arrested more than 80 people including government officials, political party leaders including the ruling party TDP workers and businessmen. Chief Minister N Chandrababu Naidu has come under immense pressure as Opposition Party, especially, Jaganmohan Reddy-led YSR Congress raised demand for his resignation.
What is Call-Money-Scam?
- People were offered money at their doorsteps with just one phone call People were given easy and instant loan but with a massive interest rate.
- Interest rate can vary from 60% to 200%.
- House, vehicles and other properties were accepted as guarantees for the loan.
- The borrowers were given a stipulated time to repay the money.
What if a borrower failed to repay the loan on time:
- The lenders harassed the borrowers People faced extreme harassment, coercion and blackmailing.
- Many women were forced to go into flesh trade.
- Many women were forced to share beds with the money lenders when they or their relatives failed to repay the loans.
- Some people were threatened that their children were abducted.
Investigation to unveil the scam:
- The scam was exposed when a woman made a legal complaint against a group.
- Police arrested more than 80 people Chandrababu Naidu ordered a judicial probe into the matter under a retired judge of the high court.
Story Credits : Wikipedia, One India
