Man Held for Chit Fund Fraud

In yet another crackdown, the shadow police on Tuesday nabbed a person for allegedly duping several people by operating a fake chit fund company. The arrested person is Antony Koshi, 35, Kilooor House, Palluruthy. According to police officials, the accused was operating a  chit fund company  called the Mullackal Chits Private Limited at Ranni in Pathanamthitta.

The company had nine branches in Pathanamthitta, Alappuzha, Thrissur and Palakkad districts,  in which people had invested crores of rupees.“The accused was arrested after a search  was launched following a tip-off received by City Police Commissioner K G James from the palakkad police. The accused was nabbed from  an area near the High Court,”the Police official said. Apart from the chit fund fraud, several other cases were also registered against the accused.

“A case was registered for theft of 1.5 kg gold from a jewellery in Alanchuvadu, 120 ampules were seized from him at Palluruthy and two other cases for theft were registered in other police stations,”Police official said.He was produced before the court and remanded.