CHENNAI: Tamil Nadu Police's EOW (Economic Offences Wing) has arrested two women–siblings and directors of a private firm, for allegedly swindling Rs 3.71 crore from the public under the guise of getting them plots of land.

The police identified the sisters as Amshaveni, an advocate, and her sister, Sree Lakshmi. The duo ran Lakshmi Classic Homes Private Limited and operated from an office in T Nagar between 2019 and 2021.

During this period, the women collected money from the public by falsely promising residential plots at low rates in return for the investment in their firm. Investigations revealed that Rs 3.71 crore was collected from 26 investors and later misappropriated without allotting any plots.

Based on a complaint, a case was registered under sections 409, 420 r/w 34 IPC, 316 (5), 318 (4) r/w 3 (5) BNS, and Section 21 (1), (2), (3) of the BUDS (Banning of Unregulated Deposit Schemes) Act and the sisters were produced before a magistrate and remanded in judicial custody.

The police urged those affected by this firm to file complaints in person with the EOW, Chennai. Victims of similar scams by other financial firms may also approach the Economic Offences Wing at Ashok Nagar or call 18005990050 / 04422504332.