Those arrested were Antony Raj (48) of Anna Nagar in Anakaputhur, a wholesale dealer of tender coconut, and his wife Gnanaselin (45).
Police said the couple was running a chit fund from the house. The couple collected chit up to Rs 15 lakh and also made many locals deposit their money back with them by promising to double the interest. Antony Raj defaulted on paying back the investors and when the people went to his home asking for the money the couple started threatening them.
Following that, hundreds of people who invested money in the chit fund gathered in front of Antony Raj house and protested for not repaying them. Shankar Nagar police who visited the spot arrested Antony Raj and his wife.
Police said the couple did not get any licence from the government for running the chit fund and further inquiry is on.