Acting on a tip-off, Central Crime Station (CCS), a wing of Hyderabad city police, arrested Dasari Srikanth, a businessman, P Rukmini Devi, president of Bhavani Mahila Mandali and A Anuradha, warden of College of Nursing (Osmania General Hospital), police said.
Srikanth, along with the arrested accused and 6 other absconding accused, including an anganwadi worker Soudha Kumari, had allegedly conspired and started the Mahila Mandali in 2011, police said.
The accused lured nearly 300 members of a local organisation promising to provide loans and allot houses under government's Jawaharlal Nehru National Urban Renewal Mission (JNNURM), 'Rajiv Gruhakalpa' and 'Indiramma Runalu' schemes, police said.