Woman swindles Rs 75 lakh from depositors, arrested
A 55-year-old woman who swindled Rs 75 lakh from depositors by running a chit fund company in Thiruvanmiyur was arrested by police on Monday. Police said Mariyammal of Srinivasan Nagar collected the money from depositors and absconded.
Mariyammal, who had been running a chit fun for more than 15 years, collected huge sums from her neighbours. Police launched a hunt for the woman after 40 people lodged a complaint with commissioner of police J K Tripathy earlier this month alleging that she had escaped with the money deposited by them.
On Monday, police nabbed Mariyammal in Madurai. After she was nabbed, Mariyammal confessed to the police that a few people who had borrowed money failed to return it forcing her to swindle money.