In Coimbatore, three individuals were arrested for deceiving a businessman by failing to supply iridium after accepting Rs 11 crores. The police intervened after repeated failed negotiations for repayment.
Coimbatore: In a significant fraud investigation, Coimbatore police arrested three persons involved in an Rs 11 crore scam related to the sale of iridium. From Kuniyamuthur, a local man named Feroz Khan reportedly deceived Sirajudeen, a 44-year-old businessman from Wayanad, Kerala, by failing to deliver iridium after accepting the payment several years ago.
Despite multiple requests for either the iridium or a refund, Feroz Khan evaded Sirajudeen, leading the latter to file a complaint at the Kuniyamuthur police station. Investigations revealed that Feroz Khan, feeling pressured, attempted to negotiate with Sirajudeen by offering to return Rs 50 lakh initially and the rest in instalments.
Raj Narayanan from Palayamkottai, Pon Muruganandham from Nadutheru, Thoothukudi, and another accomplice were enlisted by Feroz Khan to coerce Sirajudeen into withdrawing his complaint in exchange for Rs 50 lakh. When Raj Narayanan and Pon Muruganandham attempted to escape with the money, the city police, alerted by a tip-off, intercepted their vehicle under the supervision of Deputy Commissioner Saravanakumar and Assistant Commissioner Ajay Thangam. The police successfully recovered Rs 20 lakh and seized the car involved.
The arrest and recovery operation was executed on June 18, under the directives of Police Commissioner Balakrishnan. The police are currently searching for Feroz Khan, who remains elusive. Previously, income tax officials had conducted raids at Feroz Khan's residence, confiscating substantial amounts of money.
Despite multiple requests for either the iridium or a refund, Feroz Khan evaded Sirajudeen, leading the latter to file a complaint at the Kuniyamuthur police station. Investigations revealed that Feroz Khan, feeling pressured, attempted to negotiate with Sirajudeen by offering to return Rs 50 lakh initially and the rest in instalments.
Raj Narayanan from Palayamkottai, Pon Muruganandham from Nadutheru, Thoothukudi, and another accomplice were enlisted by Feroz Khan to coerce Sirajudeen into withdrawing his complaint in exchange for Rs 50 lakh. When Raj Narayanan and Pon Muruganandham attempted to escape with the money, the city police, alerted by a tip-off, intercepted their vehicle under the supervision of Deputy Commissioner Saravanakumar and Assistant Commissioner Ajay Thangam. The police successfully recovered Rs 20 lakh and seized the car involved.
The arrest and recovery operation was executed on June 18, under the directives of Police Commissioner Balakrishnan. The police are currently searching for Feroz Khan, who remains elusive. Previously, income tax officials had conducted raids at Feroz Khan's residence, confiscating substantial amounts of money.