In Bengaluru, a Malayali couple named Tomy AV and his wife Shiny Tomy have vanished after duping hundreds of people of over 100 crores, promising multi-fold returns on their money.
In what is now being unravelled as an elaborate chit fund scam, the couple primarily targeted other Malayali families in and around Ramamurthy Nagar in Bengaluru. As per a News Nine report, their company, named A&A Chit Funds, promised high returns on small amounts for nearly two decades.
? Malayali couple vanishes after duping thousands in a Rs 100 crore chit fund scam in Bengaluru
— Nabila Jamal (@nabilajamal_) July 10, 2025
Most victims were from their own community. Kerala and Karnataka Police have launched a global investigation#Bengaluru #ChitFundScam #Fraud pic.twitter.com/GuH4GCQ4bG
After collecting nearly 100 crores over many years from thier fellow Malayali, mostly religious groups and apartment societies, the couple vanished on July 3. CCTV has shown them leaving with suitcases. They have sold off their flat and car.
The police have stated that the company was only licensed to collect only Rs 5 lakhs per chit, but Tomy and Shiny collected crores, all in cash and undocumented. The business had expanded to Sarjapura and Bommanahalli, and in some cases, outside of Bengaluru too. Over 350 victims have now approached the Ramamurthy Nagar police station demanding an investigation.
Police have stated that Tomy and Shiny fled to Kenya on a tourist visa.
