- By Nidhi Giri
- Mon, 07 Jul 2025 03:20 PM (IST)
- Source:JND
A Malayali couple has likely fled abroad after a huge chit fund scam worth nearly Rs 100 crore in Bengaluru. The husband-wife duo, who had been running a finance scheme involving over a thousand investors, predominantly Malayalis, went missing on July 3. The couple came under scanner after around 265 people registered complaints against the chit fund company. As per records, the company has around 1,300 clients.
The husband and wife have been identified as Tommy AV and Shiny Tommy, respectively. They are residents of Ramankary village in Kerala’s Alappuzha.
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As per the complaint, the couple, proprietors of A&A Chit Funds in Ramamurthy Nagar, Bengaluru, planned the fraud. They operated chit funds for two decades, by accepting investments from religious institutions and Malayali associations, as per a News18 report.
A case has been registered by the Ramamurthy Nagar police. They are investigating the possibility that the couple might have fled abroad.
People grew suspicious when Tommy and Shiny went missing after selling their residential flat without informing the company’s employees. Their phones were also switched off.
As per the report, the couple lured investors from places of worship and residential associations. Their company would offer higher interest rates than banks and had been operating for almost 20 years, since 2005. Until July 3, the duo had been paying the promised interest.
