Investors who had poured their money into a private chit firm run by Rajasekar of Irumbuliyur in Tambaram, staged a protest near the traffic signal on GST Road in Irumbuliyur on Sunday. Over 50 people participated.
They said that Rajasekar and his wife conducted monthly chits ranging from Rs. 25,000 to Rs. 1 lakh.
Around 200 investors
They owed over Rs. 2 crore to the investors numbering around 200. A complaint was lodged with the Central Crime Branch police last week in this regard, they said.
Tambaram police rushed to the spot and pacified the agitators to give up the demonstration.
Traffic hit
Due to the protest, traffic on the road was disrupted for about 30 minutes in the morning.
Police said that investigation was on and they would nab the fraudsters soon.
The couple conducted monthly chits ranging from Rs. 25,000 to Rs. 1 lakh. They owed over Rs. 2 crore to the investors
