Dindigul District Crime Branch police on Monday arrested P. Ravichandran of Periyakottai in Oddanchatram in the district in connection with a chit fund scam.
According to the police, Ravichandran, along with his relative P. Vijayakumar, jointly operated an unregistered ₹5 lakh auction chit fund in Periyakottai. Together, they had defrauded more than 60 people by collecting amounts ranging from ₹50,000 to ₹3 lakh, totalling ₹3.25 crore.
Ravichandran absconded without paying the money to the subscribers. Based on the complaint, DCB police arrested Ravichandran. Subsequently, he was remanded in judicial custody. He is currently lodged in Madurai Central Prison. The police are on the lookout for the second accused, Vijayakumar, who is absconding.
Meanwhile, the subscribers submitted a petition to Dindigul Superintendent of Police S. Jeyakumar, seeking a thorough investigation into the case and recovery of the amount. SP Jeyakumar warned that strict legal action would be taken against anyone operating unauthorised chit funds and defrauding the public.
Published - October 05, 2026 09:20 pm IST