Four held for chit fund fraud

The Hindu - - CHENNAI - Spe­cial Cor­re­spon­dent

The Mad­havaram Milk Colony police on Thurs­day ar­rested four per­sons, in­clud­ing a woman and her daugh­ter, for cheat­ing per­sons who contributed to a Deep­avali fund.

Amudha of Mathur ran a chit fund and col­lected money from rel­a­tives and neigh­bours. She lodged a com­plaint with the police claim­ing that ₹8.5 lakh kept in a steel bureau had been stolen.

She said she and her mother were held at knife­point. How­ever, in­ves­ti­ga­tions re­vealed that Amudha, along with her mother Nagam­mal and two oth­ers, had staged the rob­bery to cheat cus­tomers. The four were ar­rested and re­manded.

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