Economic Offences Wing Calls for Complaints in Varthaman Benefit Fund Scam Case
In a significant development, the Economic Offences Wing (EOW) in Chennai has issued a public appeal to individuals who invested in the Varthaman Benefit Fund scam in Thirukazhukundram near Mamallapuram. Authorities are urging victims to come forward and lodge formal complaints as the chargesheet for this long-running financial fraud case is being finalized.
Details of the Financial Fraud Operation
According to police investigations, the fraudulent financial firm was established back in 1994 by Lalitha and her husband Sampathraj, operating from Mettu Street in Thirukazhukundram. The company systematically collected money from the public through various schemes including:
- Daily savings programs
- Fixed deposit arrangements
- Other investment opportunities
Despite collecting substantial funds from investors, the company ultimately failed to return the invested amounts and subsequently shut down its operations completely.
Investigation Progress and Arrests
Police investigations revealed that the firm's employees, identified as Srinivasan and Arjun, were also involved as shareholders in the operation. After closing the company, the primary promoters disappeared, going into hiding to avoid legal consequences.
The case gained momentum when victims began lodging formal complaints with the Chengalpet EOW-CID in 2022. Based on these complaints, police officially registered a case in 2025 and subsequently managed to arrest the absconding owners who had been evading authorities.
Current Status and Public Appeal
With the chargesheet now in its final stages of preparation, law enforcement officials are making a concerted effort to ensure all affected parties have their complaints documented. Police have specifically urged those investors who have not yet filed formal complaints to approach the EOW-CID with all relevant documentation supporting their claims.
To maximize outreach, authorities have also issued public notices in the Thirukazhukundram area, seeking information from any additional affected investors who may not have come forward previously. This comprehensive approach aims to ensure that justice is served for all victims of this financial deception.
The case highlights the importance of vigilance in financial investments and demonstrates law enforcement's commitment to pursuing justice in complex economic fraud cases that impact ordinary citizens.
