Conned investors throng chit fund owner’s house

The Pallikaranai police, who visited the spot, confirmed that it was false news and asked the victims to file a complaint at the Commissioner of Police’s office.

Sathya Singh (42) from Sunambu Kolathur in Kovilambakkam was running a provisional store in the locality for 10 years. A few years ago, Singh, his wife and her bother started a chit fund. They paid the money on time in the beginning and so several more people joined the chit fund. Recently, Singh started a Diwali special fund and nearly 500 people joined. But he did not pay any of them for the past six months.

Meanwhile, on July 27, he vanished after locking his house and the shop. When neighbours contacted him over the phone, he said that he was in his native to arranging the money and would return on August 23. When the depositors tired to contact Singh in August, they found his mobile number out of reach. Those who lost their money went to the Pallikranai police station to lodge a complaint but the police asked them to file the complaint with the Commissioner of office.

On Thursday morning, a rumour spread in the locality that Singh returned to the house and was feeding his dog outside the house. Soon, hundreds of people gathered in front of the house. As the house was locked, they planned to break open the gate. Meanwhile, the Pallikaranai police rushed to the spot on information and convinced the investors that it was false news. The police suspect that he might have sold the house already and asked the people to file a complaint.