A massive financial fraud case has surfaced in Ramamurthynagar, Bengaluru, where a Kerala-based couple allegedly duped hundreds of investors of crores by luring them with promises of high interest under the guise of finance and chit fund operations.

An FIR has been registered at Ramamurthynagar Police Station against A.V. Tommy and his wife Shiny Tommy, owners of the now-defunct A & A Chit Fund and Finance Company on 8th Main Road, Ramamurthynagar, based on a complaint filed by local resident P.T. Savio.

According to Savio’s statement, the accused, originally from Kerala, had been operating their chit fund business in the area since 2005. They allegedly collected large sums from multiple investors, including Savio and his family—who claim to have deposited nearly ₹70 lakh—with the assurance of high returns.

However, recently, Savio noticed the company’s office shuttered. Enquiries with neighbours revealed that the Tommys had vacated the premises and were untraceable. Their mobile phones were found switched off. Alarmed, Savio filed a formal complaint, urging authorities to take immediate legal action.

Following the complaint, police registered a case under various sections of the BNS Act and the Chit Funds Act. Investigators confirmed that A.V. Tommy and Shiny Tommy are currently absconding. Efforts are on to locate and arrest them.

Preliminary investigation suggests that the duo may have defrauded over ₹14 crore from more than 100 people. Authorities believe the actual scam amount could be even higher.

Given the scale of the alleged fraud, there are strong indications that the case may be transferred to the Central Crime Branch (CCB) for deeper investigation. A special police team has already been formed to trace and apprehend the fugitives.

Police urge anyone else affected by the A & A Chit Fund scam to come forward and register complaints.