40-year-old and husband, who were running a chit fund, closed it and fled with depositors’ money

Central Crime Branch of the city police on Tuesday arrested a 40-year-old woman on charges of cheating many persons of money deposited in a chit fund that she ran along with her husband.

The police said Ilampooranan (45) and his wife Lavanya, ran Mylam Chit Funds from a building in Corporation Colony, Tondiarpet. They also ran several branches in different parts of the city.

Over 200 persons deposited a total of nearly Rs. 2 crore in their firm. Last week, the couple closed their offices and fled with the depositors’ money, the police said.

After the depositors approached the office of the Commissioner of Police and lodged a complaint, a CCB probe was carried out.

Meanwhile, some depositors discovered that Lavanya was in her parents’ house in Perambur area. They went there on Monday evening and cornered her. They then alerted the police and a CCB team reached the spot and apprehended Lavanya.

She was remanded to custody on Tuesday morning and sent to Puzhal prison. The police team is hunting for Ilampooranan, who is said to be on the run.

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