The Pondy Bazaar police have arrested a couple who had allegedly been evading authorities in connection with a Deepavali chit fund scam in T. Nagar.
Police sources identified the accused as Dineshkumar and his wife, Bhuvaneshwari, residents of T. Nagar. The couple had been operating a Deepavali chit scheme since 2021, attracting several local residents to invest in the festive savings plan.
One of the investors, Sangeethavani, 32, also a resident of T. Nagar, had been regularly contributing to the scheme. However, when the promised returns were not delivered, suspicions arose, prompting a police complaint.
Following an investigation, the Pondy Bazaar police tracked down and arrested the couple, who had reportedly gone into hiding. Further inquiries are underway to determine the extent of the alleged fraud and identify other affected investors.
