The Central Crime Branch (CCB) has arrested a 29-year-old man who was absconding in two cases involving an alleged ₹1.12 crore Deepavali chit fund fraud.
Vigneshwaran of Perambur ran VSP Enterprises on M.H. Road with his father, Santhakumar. According to the police, the duo collected money under various schemes, promising subscribers gold, silver, silk sarees, firecrackers, and other gifts.
They also promised ₹15,000 to those who paid ₹1,000 per month for 12 months. However, they allegedly failed to fulfil their commitments and went into hiding.
Based on complaints from a victim, the Thiru.Vi.Ka. Nagar police registered two cases. Santhakumar was arrested earlier and remanded in judicial custody. The cases were later transferred to the CCB’s wing that investigated cases under the Tamil Nadu Protection of Interests of Depositors Act.
Vigneshwaran was arrested on October 5. The police said the duo had allegedly collected around ₹1.12 crore from the public. He was produced before a court and remanded in judicial custody.
Published - October 15, 2026 12:31 am IST