Nirmal Krishna, who swindled around Rs 340 crore in Tamil Nadu, surrendered in Madurai court
An alleged chit fund fraudster Nirmal Krishna, who had swindled around Rs 340 crore in Tamil Nadu's Kanniyakumari district, surrendered before the Madurai bench of the Madras High Court on Wednesday.
Investigators say, so far 4,800 depositors have registered complaint against Nirmal. However, the investigators estimate, that the 53-year-old could have cheated more than thirteen thousand depositors to the tune of around 2,000 crores promising eighteen percent interest.
Nirmal, who heads the Nirmal Krishna Nidhi, was absconding over the last few months following cheating complaints. Police have already arrested five of the eighteen directors of the group.