About 49 people have officially declared themselves be on the hunt for Madam Santhi M. K. and Mr. Murali Krishnan Naidu of San Tee Credit.
Madam Santhi is the owner of the local moneylending firm, while her husband Mr. Murali is its manager.
Out of those that have come forward, several are childhood friends of the couple. Altogether, they claim to have pumped in about $4 million dollars into the moneylending business.
The drama came to light when in October last year, one of the investors Mr. Haresh Govindaraju was caught on video clinging to the front of a Toyota Altis that was being driven by Mr. Murali.
He’d confronted Mr. Murali about the money he’d put into the business — close to $142,000 according to The New Paper. But instead of facing his old friend, Mr. Murali kept on driving, even accelerating to about 40km/h along Jalan Jurong Kechil.
Another investor Mr. Raja, said the company did issue monthly returns as promised, in the initial stage. But in 2012, the payments stopped. Altogether Mr. Raja had invested $130,000 in Mr. Murali’s business, and had loaned him an additional $40,000.
Some investors told TNP that San Tee Credit’s law firm M. Nedumaran & Co. wrote to them last year to tell them San Tee Credit’s money was stuck in the Philippines, where it had been invested in two money lending businesses providing loans to soldiers.
Mr. Raja was one of them, and he claims he never knew his money was being invested overseas.
Three lawsuits have been filed so far against owner Madam Santhi, two in April and one in May last year.
The State Courts ruled in favour of the plaintiffs, who demanded a total of $690,000 according to TNP, as no defence was filed.
The couple’s still uncontactable however, so no one’s actually gotten their money back.
Photo: Screenshot of video via Stomp
