Indian in Saudi Arabia swindles many in chit fund scamOctober 12th, 2008 - 4:03 pm ICT by IANS
Dubai, Oct 12 (IANS) An Indian national in Saudi Arabia is absconding after allegedly swindling many people in a chit fund scam.The Indian embassy in Riyadh alerted the police in the south Indian state of Tamil Nadu to look out for T. Sekar after receiving a complaint from a group of 20 victims of the scam, the Arab News reported.
Sekar hails from Nagappattinam district in Tamil Nadu.
One of the victims, Ayyappan, told the newspaper that he lost 19,000 Saudi Riyals ($5,066) in the chit fund scam run by Sekar.
Sekar and his accomplices, who ran the fund for several years, were reportedly seen in the city of Jeddah recently.
“Now, we are keeping a watch on their possible hide-outs,” said Antony, another victim.
Sekar had reportedly started the fund in Dammam and then shifted the operation to Riyadh.