More than 30 people lodged a petition with the district crime branch and the district collector in the city on Monday seeking action against a chit fund firm in Pollachi. The company allegedly cheated them to the tune of over 10 crore.
As per the petitioners, a person named Raja alias Gurusamy ran a chit fund firm named Sri Balaji Chit Fund and Srivari Chit Fund for over five years. "For the past two years, the owner stopped paying out the interest and even the initial deposit. Raja kept on redepositing our funds and its interest with the claim that a higher interest rate would be given. A few months ago, when we realized that something was fishy, we approached him and asked him to settle the amount. But no one was repaid their funds let alone the interest," said G Natarajan, a complainants.
More than 150 people from Pollachi, Udumalpet, Puliampatti and surrounding villages had investedin the chit fund. Each of them had deposited between 5 to 15 lakhs in the firm. "The total amount is over 15 crores," said Sudha, a petitioner. adding that there were cases where all members of the family deposited with him. "We all trusted him but we did not think, he would cheat us," she added.
Another petitioner said, "The owner called a month ago after we raised our concerns and told us that he would settle the amount. But after that his phone became unreachable and we found his residence locked.We enquired with his son in Chennai and realized that he had not gone there as well."
The petitioners prepared a list of people who were affected and approached the police. They filed a complaint but since the investigation has not made any progress they have approached the district collector.
"The economic offences wing officials and the DSP of district crime branch office have not acted on the petition. Since a hugesum of money is involved, we are worried and have approached the collector to ensure that action is taken and Raja is caught," said Natarajan.
DSP Murugasamy said that the case was not registered yet and they had received a complaint. He added that the investigation had begun and they would catch the accused soon.
As per the petitioners, a person named Raja alias Gurusamy ran a chit fund firm named Sri Balaji Chit Fund and Srivari Chit Fund for over five years. "For the past two years, the owner stopped paying out the interest and even the initial deposit. Raja kept on redepositing our funds and its interest with the claim that a higher interest rate would be given. A few months ago, when we realized that something was fishy, we approached him and asked him to settle the amount. But no one was repaid their funds let alone the interest," said G Natarajan, a complainants.
More than 150 people from Pollachi, Udumalpet, Puliampatti and surrounding villages had investedin the chit fund. Each of them had deposited between 5 to 15 lakhs in the firm. "The total amount is over 15 crores," said Sudha, a petitioner. adding that there were cases where all members of the family deposited with him. "We all trusted him but we did not think, he would cheat us," she added.
Another petitioner said, "The owner called a month ago after we raised our concerns and told us that he would settle the amount. But after that his phone became unreachable and we found his residence locked.We enquired with his son in Chennai and realized that he had not gone there as well."
The petitioners prepared a list of people who were affected and approached the police. They filed a complaint but since the investigation has not made any progress they have approached the district collector.
"The economic offences wing officials and the DSP of district crime branch office have not acted on the petition. Since a hugesum of money is involved, we are worried and have approached the collector to ensure that action is taken and Raja is caught," said Natarajan.
DSP Murugasamy said that the case was not registered yet and they had received a complaint. He added that the investigation had begun and they would catch the accused soon.