CHENNAI: The Central Crime Branch (CCB) has arrested two persons, including a company director, on charges of defrauding investors of over Rs 2.4 crore through a chit fund firm operating in Arumbakkam.
Police said Dillibabu (39) of Kovilambakkam had invested about Rs 2.17 lakh with Achilles Chit Fund Pvt. Ltd. since 2019. Despite the maturity of the scheme, he and more than 70 depositors were allegedly cheated of over Rs 2.4 crore after the firm’s directors Yuvaraj, Anandan, and accounts manager Vinoth Kumar abruptly shut down the company and went into hiding.
Based on complaints from the victims, CCB’s Chit and Usury Investigation Wing registered a case on September 8 and launched a probe.
The investigation found that the accused had collected money from over 70 investors, promising high returns before absconding with the funds. The police arrested Anandan (48) of RS Puram, Coimbatore, on October 28, and Vinoth Kumar (32) of Arumbakkam on October 29.
Both were produced before the Egmore CCB & CBCID court and remanded in judicial custody. Police said efforts are on to trace the remaining accused.