CHENNAI: The Economic Offences Wing (EOW) of the Crime Investigation Department (CID) has urged those who have invested in the Varthaman Benefit Fund at Thirukkazhukundram near Mamallapuram to come forward and file complaints against the company, as the charge sheet in the case is being finalised.
Police said the firm, started in 1994 by Lalitha and her husband Sampathraj, collected money through daily savings schemes and fixed deposits but failed to return the funds before shutting down operations.
Investigations revealed that employees at the firm - Srinivasan and Arjun - were also associated as shareholders, and the promoters later went into hiding.
Following complaints from victims in 2022, a case was registered in 2025 and the absconding owners were subsequently arrested.
Police said the fraud runs into crores of rupees. Authorities have issued public notices seeking details from affected investors and urged those yet to file complaints to approach the EOW-CID with relevant documents.