August 13, 2015:

Promising to arrange bank loans for members of Self Help Groups (SHGs), a trio embezzled cash to a tune of Rs. 50 lakh.

The matter came to light when Bhagavathi Anitha, 37, resident of Kumar Nagar in Tirupur, approached the Tirupur City with a complaint that she was duped of Rs. 1.06 lakh by three women.

According to the police, Bhagavathi was approached by trio Kavitha, Managing Director of Therasa Foundation Trust, based at Kumar Nagar in Tirupur, and Rajasekar and his wife Thilagavathi. They lured Bhagavathi with the offer of bank loans at low interest rate.

The complainant obtained Rs. 2 lakh from a nationalised branch at Kumar Nagar in 2013 under the name of ‘Kannikambal Self Help Group.’ The three people took Rs. 7,000 as commission for arranging the loan and also Rs. 50,000 as deposit for the SHG.

After sometime Bhagavathi repaid Rs. 1.95 lakh to the trio and when she checked her loan details with the bank recently, she was shocked to know that they had paid the bank only Rs. 88,750 and duped her off Rs. 1.06 lakh.

City Crime Branch police registered a case against the trio and began investigation. Preliminary investigation revealed that they had embezzled nearly Rs. 50 lakh from members of SHGs in the name of their Trust.