Couple Held for Swindling in Pallikaranai

A middle-aged couple was arrested on charges of swindling money to the tune of `25 lakh on the pretext of running a chit fund.

CHENNAI: A middle-aged couple was arrested on charges of swindling money to the tune of `25 lakh on the pretext of running a chit fund in Pallikaranai. Police said Karpagam (40) and her husband, Paneerselvam (50), launched the chit fund scheme in 2010 to meet their domestic needs expecting competitive commission. As time went on, Karpagam stopped paying back the matured money to the investors and began buying time. She then started abusing and threatened them for demanding their money. As many as 27 investors had lodged complaints with the City Police. 

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