Public today filed a petition at the District Collector's Office seeking action against the owner of a chit fund who cheated Rs 1.14 crore by operating a chit deposit scheme.
Tirupur: Satish Kumar is from Ganapathipalayam area of Tirupur district and runs a fancy store in the same area.
Radhamani, who is from the same area, has been running Chit for the past few years. Following this, Satish Kumar was persuaded to join the chit. Since he belongs to the same area, Satish Kumar and many of his relatives and friends have paid him money for the chit.
The owner of the chit fund has since delayed giving money despite investors asking for a refund. The owner informed the depositors that she had given money to people outside and those people have refused to return the money.
The public lost their temper and lodged a complaint at the Palladam police station.
All the victims filed a petition at the district collector's office today demanding immediate recovery of Rs 1,14,20,000 which Radhamani had reportedly defrauded.
Radhamani, who is from the same area, has been running Chit for the past few years. Following this, Satish Kumar was persuaded to join the chit. Since he belongs to the same area, Satish Kumar and many of his relatives and friends have paid him money for the chit.
The owner of the chit fund has since delayed giving money despite investors asking for a refund. The owner informed the depositors that she had given money to people outside and those people have refused to return the money.
The public lost their temper and lodged a complaint at the Palladam police station.
All the victims filed a petition at the district collector's office today demanding immediate recovery of Rs 1,14,20,000 which Radhamani had reportedly defrauded.