Police in India have launched a manhunt for a couple from Kerala, a state on India's Malabar Coast, accused of defrauding over 300 investors through a fraudulent chit fund scheme before fleeing to Kenya.
Authorities say the duo is suspected to have escaped the country just days before formal charges were filed.
According to reports from The Indian Express, the couple allegedly scammed 368 individuals out of nearly Rs 40 crore, equivalent to approximately Ksh602 million, through their chit funds, a traditional scheme that combines savings and borrowing, or what we locally call Chamas, which they operated in East Bengaluru since 2005.
One of the complaints came from a senior citizen who reportedly lost approximately Ksh10.5 million (Rs 70 lakh) in the scheme.
