Pawn broker on the run after cheating public near Pallikaranai

CHENNAI: Tension prevailed in Pallikaranai after a group of residents gathered outside the residence and shop of a pawn broker with

him to be a cheat, on Sunday morning. The pawn broker who ran a Deepavali chit fund allegedly escaped with deposits worth Rs 1 crore and also 150 sovereigns of gold pledged with him.

Police sources said that residents gathered outside the shop of the pawn broker, Rajendran, on Sathya Nagar in Kovilambakkam, the same neighbourhood, where he has been a resident for over two decades.

Last year, Rajendran allegedly started a chit fund in which public were asked to deposit Rs 1,000 a month and many residents had obliged, considering Rajendran is a local, police said.

Meanwhile, the pawn broker dodged people who came to retrieve the jewels pledged with him for the past two months. His shop was closed for the past two weeks and he too was not found in home after which people who pledged jewels made enquiries in the neighbourhood and learnt that he has sold the house and fled with his family.

Subsequently, some of those who cheated had filed a complaint with Pallikaranai police station, who had asked them to approach the crime branch cops. To seek justice, several persons gathered outside Rajendran’s home and shop and raised banners against him.

Police rushed to the scene and pacified the protestors, promising action after which they dispersed.