Couple arrested for cheating ₹27.5 lakh in Deepavali chit fund scam

The Pondy Bazaar police arrested a couple who had been on the run in connection with a Deepavali chit fund scam.

According to the police, Sangeethavani, 32, of T. Nagar, had been paying into a Deepavali chit scheme run by Dineshkumar and his wife Bhuvaneshwari, who reside in the same area since 2021.

Based on trust developed over time, Sangeethavani enrolled around 250 persons during 2023–2024 through her acquaintances and collected ₹1,000 per month from each member for 11 months, amounting to approximately ₹27.5 lakh. The total amount collected was handed over to Dineshkumar and his wife.

However, even after the chit matured, the couple allegedly failed to return the money and continued to cheat the subscribers. Based on a complaint lodged by Sangeethavani, police registered a case for cheating and chit fund fraud, and an investigation was initiated.

On investigation, the police arrested Dineshkumar, 36, and his wife Bhuvaneshwari, 32, both residents of T. Nagar.