A&A chit fund fraud; Tomy A Varghese and Shiny Tomy approach High Court

BENGALURU: A&A chit fund owner Tomy A Varghese and his wife Shiny Tomy, who have been involved in a multi-crore investment fraud, have approached the Karnataka High Court seeking quashing of the case. There are indications that they reached Bengaluru after entering Kenya on the 3rd of this month. Meanwhile, the High Court has asked the Ramamoorthynagar police, which is investigating the case, to present their arguments.

The police had issued a lookout notice to find Tomy A Varghese and Shiny Tomy, natives of Ramankary in Kuttanad, Alappuzha. Currently, 410 people have filed complaints with the police against them. The police have received information that the couple has committed fraud of more than Rs 100 crore through their chit fund institution. Of this, there are people who made fixed deposits of up to Rs 1.5 crore and who have deposited the money they received when they became pensioners. The couple had been running a chit fund company in Bengaluru for the last 20 years. The police had also found that their house in Bengaluru was sold for half the price a month ago.

The couple had come home two years ago for their daughter's first communion. The family home near Mampuzhakkary has been closed for years. Tomy's mother lives in Changanassery with her brother.