Woman Chit Fund Operator Swindles Rs 1 Crore

After duping 58 depositors, including elderly persons, Lakshmi goes missing

Published: 08th July 2015 06:10 AM  |   Last Updated: 08th July 2015 06:10 AM   |  A+A-

PUDUCHERRY:Police on Tuesday registered a complaint against a woman, who was running a chit fund, for allegedly swindling depositors of their hard-earned money to the tune of Rs 1 crore.

According to a source, Lakshmi (40), wife of Kanniappan (45) and resident of Govinda Naikan Street, Kosapalayam, was running the chit fund scheme for the past eight years. Initially, Lakshmi was prompt in making payments on the maturity of chit, and many from distant places too invested in her chit fund scheme.

However, for the past one year, Lakshmi was defaulting on making her payments to investors. Also, the investors were unable to meet her on various occasions. Later, the word spread out that she had fled Puducherry two months ago. When depositors tried contacting her, she was untraceable.

One of the depositors claimed that there were over 58 depositors, including retired persons, women of lower middle class families, who have invested their hard earned money in the scheme. On Tuesday, many depositors, including women, who did not receive any money on the maturity of their chit, gathered in front of Lakshmi’s house and raised slogans. They demanded that the police and authorities intervene and recover their money. A compliant has been filed at the Orleanpet police station.

On realising that they have been duped, the depositors preferred a complaint with the police on June 22. As the police did not take action on their complaint, the investors gathered in front of her house and raised slogans demanding action.

The personnel from Orleanpet station reached the spot and tried to pacify them. They assured them that action would follow after investigation is over. The inspector said that the police would carefully examine the cheating case before initiating any action in this regard.

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