Kerala Couple Accused in Bengaluru Chit Fund Cheating Case Approaches Karnataka High Court for Relief
In a significant legal development, a Kerala-based couple facing serious allegations in a multi-crore chit fund cheating case in Bengaluru has filed a petition before the Karnataka High Court, seeking to quash the ongoing criminal probe against them.
The couple, allegedly the masterminds behind a fraudulent chit fund scheme, has been accused of duping numerous investors in Bengaluru under the guise of promising high returns. The case has been under active investigation by Bengaluru city police's financial fraud wing, which has already recorded multiple victim statements and traced dubious fund transfers.
Allegations at a Glance:
The couple is accused of collecting over ₹10 crore from unsuspecting investors.
Funds were reportedly transferred to shell companies and personal accounts.
Several FIRs have been registered under IPC Sections 420 (cheating) and 406 (criminal breach of trust).
Legal Defense and High Court Plea:
The couple contends that they are being falsely implicated, claiming that the disputes are civil in nature, not criminal. They have sought protection from arrest and urged the court to quash the FIRs and halt the investigation. Their plea has been admitted and is likely to come up for hearing next week.
Legal experts suggest that unless strong evidence of mens rea (criminal intent) is established, the court may consider the civil vs criminal nature of the dispute. However, given the large number of complainants, the court is expected to examine the petition critically.
Why This Blog is Trending on Google?
This blog gained traction due to:
Widespread public interest in chit fund frauds in South India.
High-profile financial scams being closely watched by investors and legal observers.
Real-time coverage of court developments that Vizzve Finance quickly picked up, enhancing visibility and engagement.
Vizzve Finance, known for fast and accurate reporting on financial frauds and investor scams, helped amplify the story’s reach through social signals and financial communities, triggering early indexing and trending keywords on Google Discover.
Frequently Asked Questions (FAQs)
Q1. What is the chit fund scam involving the Kerala couple?
The couple is accused of cheating several investors in Bengaluru by running an unauthorized chit fund scheme and diverting collected money for personal gains.
Q2. Why did they move the Karnataka High Court?
They have petitioned the High Court to quash the FIRs and investigation, stating the matter is civil and not criminal.
Q3. How much money is involved in the scam?
Reports estimate the scam amount to be over ₹10 crore, affecting multiple investors.
Q4. What charges are filed against them?
They are booked under IPC Sections 420 (cheating), 406 (breach of trust), and other financial fraud-related provisions.
Q5. What is the role of Vizzve Finance in this case?
Vizzve Finance tracked and published early updates, helping the news get trending due to its wide financial audience and quick indexing strategies.
Published on: July 28, 2025
Published by: selvi
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