The Ramamurthy Nagar police on Saturday booked a couple, who were running a chit fund, for allegedly cheating hundreds of their customers.
The accused have been identified as Tomy A.V. and Shiny Tomy, owner of the A&A Chit Fund and Finance.
The police registered the FIR on July 5, following a complaint by one of the victims, Savio P.T. Savio, 64, who alleged that he and his family lost around ₹70 lakh.
“When I checked on Saturday, the chit fund office was closed, and the couple stopped responding to my calls, and their mobile phones were switched off,” Mr. Savio said in his complaint.
The couple had been operating chit fund since 2005, and hundreds of customers invested crores of rupees on the promise that they would get 25% returns against their investment after a certain period of time.
The case was registered under various provisions of the Chit Funds Act, 1982; the Banning of Unregulated Deposit Schemes Ordinance, 2019; and the section 318(4) (cheating) and 316(2) (criminal breach of trust) of the Bharatiya Nyaya Sanhita (BNS).
A police officer said the couple appeared to be absconding, and efforts were on to track them down.
