Chit firm cheated us: investors

According to the protesters, the family of Senthilraj ran a chit fund scheme from Gandhi Nagar, in Madukkarai, and had taken investments from over 500 persons.

SEEKING JUSTICE: A group of people from Selvapuramthronged the Collectorate on Tuesday, alleging that a familythat ran a monthly chit scheme had defrauded them of theirinvestments. They sought action from the authorities forreturn of the money. Photo: S. Siva Saravanan

A number of investors thronged the Coimbatore Collectorate, City Police Office and Office of the Superintendent of Police — Coimbatore Rural, seeking action against a family for allegedly cheating investors in a chit fund scheme that was run by the family.

According to the protesters, the family of Senthilraj — his wife Shenbagavalli and their son Mohankumar and daughter Banumathi of Gandhi Nagar in Madukkarai — ran a chit fund scheme and had taken investments from over 500 persons.

The family had even constructed a house in Gandhi Nagar area.

Investors alleged that for the past few months, the family defaulted in honouring the return of investments to the investors and never kept the promise made in terms of time frame for refund to investors.

When investors insisted on getting the money back, the family members reportedly abused and threatened them of dire consequences.

Police have begun a probe into the complaint.