Complaint lodged against chit fund firm, accused of Rs. 9 crore fraud

Mangaluru: A complaint has been registered at the Economic and Narcotics Crime Police Station here against a Chennai-based company named Tirupur Chits Private Limited, for allegedly cheating the public of Dakshina Kannada district to the tune of 9 crore rupees.

Arafat, a resident of city, has filed a complaint against the company which is said to have its office in a building near Bunts Hostel. He has accused the manager, director and staff of this company as the fraudsters in the complaint.

The complaint mentions that the company has more than 150 branches throughout the country, including 34 branches in Karnataka and in Mangaluru, they had more than 200 investors from whom they have collected more than 9 crore rupees.

It is learnt that Sumana, the director of this company, which has cheated thousands of people throughout the country, has her roots in Mangaluru. In the beginning, the company returned the investments of the depositors in time to gain their faith, it is alleged. Eventually, the customers started depositing huge amounts and the amount that needs to be returned to the customers reached 9 crore rupees. The office of the company has remained locked since the personnel of the company was absconded.

“I had invested more than Rs 50 lacs. As I came to know that this company is going to get closed because of the losses they have suffered, I went to their head office in Chennai to inquire about the same. The office was locked there. The manager, director and seven other people were arrested after a complaint was registered against them. In this background, I am also filing a complaint here,” states Arafat, in his complaint to the police.