Two held for chit fund fraud involving over ₹2.4 crore in Arumbakkam

The Central Crime Branch (CCB) has arrested 2 persons, including 1 of the directors of a chit money company, successful transportation with a fraud involving implicit ₹2.4 crore successful Arumbakkam.

According to the police, Dilli Babu, 39, of Kovilambakkam, had been investing successful Achilles Chit Fund Pvt. Ltd. successful Arumbakkam since 2019, paying astir ₹2.17 lakh. After the chit matured, helium and astir 70 different investors were allegedly cheated, arsenic the institution failed to instrumentality their money. The company’s directors Yuvaraj and Anandan and accounts manager Vinoth Kumar reportedly closed the bureau and absconded.

Based connected complaints filed by Dilli Babu and different victims of the alleged fraud, the CCB’s Chit Fund and Usury Investigation Wing registered a lawsuit connected September 8, and began inquiries. Following investigation, the constabulary arrested Anandan, 48, of R.S. Puram, Coimbatore, and Vinoth Kumar, 32, of Arumbakkam

Both were produced earlier the CCB and CBCID Court successful Egmore and remanded successful judicial custody.