Cops launch hunt after pawnshop owner disappears with chit amount in Tambaram

Police sources said Prakash Chand Jain (50), who owns a pawn shop near Gowrivakkam, was running the chit fund for the past 10 years. Every month, people would pay him Rs 500 and after 12 months he would give them gold or silver articles worth Rs 7,500.

On July 6, even after shops were allowed to function, Prakash Jain did not open his shop. The locals thought that he would open after a few days. However, when they checked his house, they came to know that he had vacated his house.

Following this, people who invested in chits filed a complaint with the Selaiyur police. Officials said that a case has been registered, but the exact amount is not known yet. They added that many more people from the locality were coming forward to file complaints.