Archive · 21 Aug 2025
Kerala Couple Granted Bail in Rs 40-Crore Chit Fund Scam
A couple ran a business in India that promised high interest rates to people who invested money.
They took money from about 600 people, totaling over Rs 40 crore.
Then, they left the country, prompting investors to file complaints.
Police investigated and found the couple had been running the business for about 20 years.
They were offering interest rates between 6 to 14 percent.
Now, the couple has been granted temporary bail, but the investigation continues, and the police are still looking for them.
A couple from Kerala, Tomy A Varghese and Shini Tomy, received anticipatory bail in a Rs 40-crore cheating case.
The couple is accused of defrauding nearly 600 investors through their A&A Chit Funds and Finance firm.
They allegedly fled to Kenya after the case was registered against them in Bengaluru.
The couple promised investors interest rates ranging from 6 to 14 percent.
The case has been transferred to the CID, and lookout circulars have been issued.
- Who
- Tomy A Varghese and Shini Tomy, along with nearly 600 investors.
- What
- A couple is accused of cheating investors through a chit fund and finance business.
- When
- The cheating case was registered on July 5, and anticipatory bail was granted on Thursday.
- Where
- East Bengaluru, India.
- Why
- The couple allegedly defrauded investors by promising high returns.
Investors
Accused
Financial Loss
Investors
Victims of fraud who seek justice and the return of their invested money.
Accused
Accused of fraud who are seeking to avoid or minimize the consequences of the allegations.
- Accused
- Tomy A Varghese and Shini Tomy
- Victims
- Approximately 600 investors
- Amount Allegedly Cheated
- Over Rs 40 crore
- Company Name
- A&A Chit Funds and Finance
- Interest Rates Promised
- 6-14%
- Bail Granted By
- Principal sessions court in Bengaluru
- Case Transferred To
- CID