Nagajothi (41) of Tiruninravur in Tiruvallur district and her husband Kishore Babu (48), who were directors of a finance company in Tiruninravur in Tiruvallur district, have been arrested by the Economic Offences Wing (EOW), Vellore, on charges of cheating 20 persons from Arakkonam and surrounding areas for a total sum of Rs.9.36 lakh.

According to a complaint lodged by one of the victims, Amudapriya (39) of Suvalpet, Arakkonam with the EOW, she had remitted a sum of Rs.1.2 lakh to Baba Associates, Tiruninravur, at the rate of Rs.3,000 per month for 40 months under a scheme floated by the company in 2012.

The company had promised to provide a half-ground plot to the depositor at the end of the payment period. But, she was not given the plot even after the completion of the payment period as promised. Repeated attempts to obtain the plot proved futile.

Therefore, she lodged a complaint with the EOW on January 31 that she had been cheated by the company.

Senathipathi, Inspector of Police, EOW, who investigated the case, arrested the couple at Tiruninravur on Friday.

The EOW filed cases against Purushothaman, Managing Director of the company, and his daughter Nagajothi and son-in-law Kishore Babu, who are the directors. While the police arrested Nagajothi and Kishore Babu, they are on the lookout for Purushothaman who is absconding.