rThe Economic Offences Wing of Virudhunagar district has arrested two women of a family for allegedly cheating a weaver, A. Gurusamy, 52, of Srivilliputtur of ₹7.5 lakh through their chit fund business.The arrested persons were identified as S. Kaleeswari and her daughter-in-law J. Ponnulakshmi. Another accused in the case, Jegannath, son of Kaleeswari, had already been arrested in another case.In his complaint, Gurusamy said that Kaleeswariapproached him in 2022 and claimed that she was running a finance company called JAYSKAY Chit Fund. She described the monthly chit fund schemes in different demonimation and promised him that investors could get back their money with a higher interest of 25%. Besides, the company would give the rebate amount also although investors need not pay it every month.Gurusamy joined a ₹30,000 per month chit scheme and paid ₹24,000 every month deducting the rebate since 2022. On completing the payment for 25 months, he sought the matured amount in 2024. However, the family members delayed the disbursal of the amount.Meanwhile, he came to know that the company had cheated several other investors and, hence, lodged a police complaint. He told the police that he paid ₹6 lakh and was cheated of ₹7.50 lakh including the promised interest.Since, several other investors had also lodged similar complaints with the Virudhunagar district police, the EOW was asked to probe into the case. The EOW registered the case on July 26 against the three members of the family for criminal conspiracy, cheating, criminal breach of trust under various Sections of BNS and also under the provisions of the Banning of Unregulated Deposit Schemes Act 2019 for defaulting on repayment and wrong inducement of investors by making misleading promises.They were also booked under the Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997. Published - July 30, 2026 08:19 pm IST