Bengaluru couple allegedly scammed investors, fled to Kenya

businesstoday.in

A Kerala couple is believed to have fled to Kenya after allegedly defrauding 368 investors in Bengaluru of approximately Rs 40 crore through a chit fund scheme. The couple, operating A&A Chits and Finance, promised investors high monthly returns, attracting many to invest life savings. The firm operated for around 25 years before investors stopped receiving payments, prompting the couple's disappearance. Authorities are investigating the scam, with over 350 individuals providing statements. Chit funds, a traditional Indian financial system, involve regular contributions distributed to members via auction or lottery.


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Bengaluru couple allegedly scammed investors, fled to Kenya | News Minimalist