Police arrest two on the charge of running ponzi scheme - The HinduUpdated - July 15, 2026 07:34 pm IST - BelagaviBagalkot Police have arrested two men on the charge of running a ponzi scheme and duping several women on the promise of higher interest, according to Sri Durga Devi Women Rural Development Organization president Vidya Hallur and secretary Rachana Bantanur. The organisation is in Bilagi.This follows a case registered against the two and others for collecting money from women and cheating them without returning it.Initial investigation has revealed that they have collected over ₹43.40 lakh from the victims so far.Some women staged a protest against the organisation and laid a siege to it on Monday.Based on a complaint, the police carried out a raid on Tuesday and seized more than 200 registers, receipt books and computers and examined them.As many as nine people have been charged with the offence, while two have been arrested, said a release from Superintendent of Police Siddharth Goyal.Published - July 15, 2026 07:32 pm ISTSign in to unlock member-only benefits!Access 10 free stories every monthSave stories to read laterAccess to comment on every storySign-up/manage your newsletter subscriptions with a single clickGet notified by email for early access to discounts & offers on our products${ ind + 1 } ${ device }Last active - ${ la }