CHENNAI:City police on Thursday arrested a 53-year-old woman before she could flee with nearly Rs 87 lakh that she accumulated by running a ponzi chit fund scheme in Mogappair East. The accused, M Shanthi, was arrested by a special team from the Perungalathur bus stand and the money recovered from her.
According to police, Shanthi was operating an unlicensed chit fund from her residence on Nakkheeran Street since 2003. She started the fund to support the earnings of her late husband, who was an auto driver. Starting with smaller sums of money, Shanthi earned the trust of people as she returned the money on time after it matured.
Having gained a firm footing, Shanthi started collecting massive sums from contributors to her chit fund. Consumed by greed, she spent the money to educate her two daughters and lead a lavish life. She had even purchased plots in Mogappair East and Ayapakkam using the money.
After Shanthi failed to return the money, aggrieved contributors petitioned the police commissioner following which action was initiated.
Police have cautioned people from getting involved with chit funds that are not licensed.
Rs 40K, Gold Stolen
Police are on the lookout for an unidentified person who decamped with Rs 40,000 and eight sovereigns of gold after breaking into a locked house in Choolai on Tuesday.
According to the police, Ashok, who was residing in the house on Anantha Krishnan Street in Choolai, had gone to Rajasthan for the vacation a fortnight ago with his family. He is a tenant in the two-storeyed building, of which one Khusal Soni is the owner. Around midnight on Tuesday, another tenant in the first floor noticed the lock of Ashok’s house broken open.
“He immediately alerted the owner, who informed the police. However, the complaint was registered only on Wednesday noon,” a police official said.
The burglar had opened the bureau locker and escaped with Rs 40,000 cash and eight sovereigns of gold, the official said.
“The exact amount will be known only after Ashok arrives. We have lifted fingerprints and collecting the same from other tenants in the building,” the police official said. The Periamet police have registered a case and are investigating.