Overview

• Tomy A Varghese and wife Shini Tomy sold their Bengaluru home and cars below market value before fleeing on tourist visas to Kenya on July 3, triggering a nationwide manhunt
• More than 400 complaints have been filed against A&A Chits and Finance for nearly ₹40 crore in losses, and officials warn total fraud could swell into hundreds of crores as more investors come forward
• A First Information Report lodged on July 5 invokes the Chit Funds Act of 1982, the Banning of Unregulated Deposit Schemes Act, 2019, and sections of the Bharatiya Nyaya Sanhita for cheating and criminal breach of trust
• Bengaluru East Police have issued asset attachment orders on the couple’s properties and bank accounts while conducting forensic analysis of transaction records
• Investigators are probing the full money trail and possible accomplices to recover investor funds and prevent further erosion of small-saver trust