TIRUCHY: A Thanjavur-based travel firm partner who absconded after collecting investments from the public was arrested on Tuesday.

Hakeem (42), who was running Fareena Tours and Travels at Ayyampettai in Thanjavur was collecting deposits from the public with a promise of giving Rs 2,500 per lakh every month.

People from many districts deposited money ranging between Rs 1 lakh and 15 lakh. Hakeem who initially paid the incentive promptly could not continue in 2022 and he escaped along with his wife Fathima. Subsequently, the depositors approached the police and a case was under investigation.

While the police arrested Hakeem on August 5, his wife Fathima was still absconding. Meanwhile, on Tuesday, a special team of police arrested Fathima near Thanjavur Tamil University.

Subsequently, she was produced before the Special Court in Madurai and was lodged in prison. Police investigation found that they had cheated the depositors worth Rs 40 crore from around 500 people.