Daijiworld Media Network – Bengaluru

Bengaluru, Jun 24: In a sensational financial fraud case, a family from Bengaluru has allegedly swindled over Rs 10 cr through a chit fund scheme, and is now on the run. The main accused, Sudha, along with her husband Siddachari and associates Yashwanth and Varshini, have gone absconding soon after multiple complaints were filed against them at the Puttenahalli police station.

According to police sources, the family, residents of 6th Phase, JP Nagar, had been operating chit funds for nearly 20 years. The scam came to light after Pushpalatha, one of the victims, lodged a complaint stating that she had invested Rs 10 lac in two chit funds worth Rs 5 lac each, contributing Rs 25,000 monthly. The chits reportedly had 40 members each, and Pushpalatha claimed she had already completed 20 months of payments.

However, when she approached Sudha to collect the chit amount, Sudha allegedly told her that she had joined for the first time and should collect the chit at the end. To her shock, Sudha and her entire family vanished overnight on June 3, leaving behind unpaid investors and a financial mess.

Following the initial FIR, the number of complainants has been steadily increasing, prompting calls for the case to be transferred to the Criminal Investigation Department (CID). Sources revealed that over Rs 10 cr has been siphoned off from hundreds of investors who had placed their trust in the accused.

In a letter addressed to the Bengaluru City Police Commissioner, the DCP of the South Division has recommended transferring the high-profile case to the CID for a more thorough investigation.

The Puttenahalli Police have now released a public notice with photographs of the four accused and are urging citizens to report any sightings or information. Those with relevant details are requested to contact the police emergency helpline 112 or call 080-22942566.

This case has sparked outrage and concern across the city, especially among middle-class families who are the primary victims of such chit fund schemes. The incident has once again raised alarms about unregulated financial operations and the urgent need for tighter enforcement.