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| Woman held for 1999 chit fund fraud Jul 14, 10 |
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CHENNAI: A 48-year-old woman, who was wanted in a Rs 115- crore chit fund fraud case since 1999 here, was arrested by the Karnataka Police on Tuesday.
Unnamalai, one of the accused in the case, was arrested in Bangalore upon arriving from Malaysia.
She was remanded by the Chief Metropolitan Magistrate Court, Egmore to judicial custody till July 27.
Unnamalai, along with her husband Shanmuga Chettiar and son Ashwin, ran Alwarpet Chit Funds at Alwarpet. Officials of the Economic Offences Wing (EOW) say that they duped 45,000 depositors promising them high interest rates and swindled Rs 115 crore.
A complaint was registered in EOW in 1999 and the three went absconding. Upon receiving information that they had fled to Malaysia, the EOW sent out a notice to all the airports in the country to arrest them if they arrived at their airports.
On Monday, the woman had arrived alone at the Bangalore airport and was on her way to the house she owned in the city when the Karnataka police arrested and handed her over to the EOW.
The other accused are still absconding
Source: Indian Express |
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