“21 din me paise double (double your money in 21 days)” – When Raju learns about this get-rich-quick scheme, he convinces Shyam and Baburao Ganpatrao Apte. By selling their bungalow and borrowing some money, the trio invest Rs 1 crore in the ‘Lakshmi Chit Fund’ with the hope of getting Rs 2 crore in three weeks. However, 21 days later, they find themselves in financial ruin, having lost everything. This is the story of the Bollywood movie ‘Phir Hera Pheri’, which has come true in Bengaluru, where a couple from Kerala, Tomy and Shiny, have been accused of defrauding hundreds of people of crores by luring them with exceptionally high returns on their investments.
A&A Chits And Finance: Real-life ‘Lakshmi Chit Fund’
Tomy and Shiny, a Kerala-based couple, have been living in Bengaluru for the past 25 years and running ‘A&A Chits and Finance’, a chit fund institution offering high returns, ranging between 15 to 20 per cent on investments.
Initially, to build confidence, the couple offered consistent returns, say the victims. However, recently, the payout stopped, and the couple became unreachable. This made investors suspicious. At least 300 investors have reportedly complained to the police, claiming to have invested huge sums.
According to the FIR filed at the Ramamurthy Nagar Police Station, the couple convinced people to invest their life savings, money set aside for children’s education, medical expenses, and weddings. Some even sold off property to invest in what they thought was a secure financial scheme.
However, now, with their mobile phones switched off and the office shut, the couple has vanished.
The ‘A&A Chits and Finance’ was reeling under a severe financial crisis, according to the sources.
Police have launched a manhunt to trace the whereabouts of Tomy and Shiny, who are believed to have fled Bengaluru. Initial reports suggest they may have liquidated both movable and immovable assets they owned before disappearing.
