Coimbatore: Another day and another man has been arrested in Coimbatore for allegedly defrauding to the tune of Rs 3 crore.
Coimbatore: A man has been arrested in Coimbatore for allegedly defrauding to the tune of Rs 3 crore.
According to the Coimbatore Economic Crimes Division Police: - Anil Kumar (43) hails from Angadi Puram near Malappuram, Kerala. He stayed in Saibaba Colony, Coimbatore and worked with Prem, Selvaraj, Suresh, Ravikumar, Aarti and Babu in an online finance business called VV Traders.
He also made an attractive announcement to those who invested money in it would get returns of double the amount paid and the returns will be paid daily in small amounts and at regular intervals. Based on this promise, more than 300 people from Coimbatore and various districts have invested millions of rupees. Those who made such payments were given a few days' returns as promised.
After that, the money was not doubled as told to the investors. Thus the investors asked for a full refund of their money and obviously they were not paid. Realizing that they had been deceived, the investors lodged a complaint with the Coimbatore City Economic Crimes Division in 2019.
Police had registered a case and arrested Prem, Selvaraj and Suresh three months ago. Also, police were searching for the missing Anil Kumar, Ravi Kumar, Aarti and Babu.
Anil Kumar, who was hiding, was arrested by the police in Kerala yesterday. Police are also searching for Ravi Kumar, Aarti and Babu.
According to the Economic Crimes Division police, “Investors were attractively promised that if they invest one lakh rupees, VV Traders will pay 2 thousand rupees daily for 6 months and double the money. It came to light that Rs 3 crore was swindled from investors in this way. 3 more people are wanted in connection with this case.”
Public who come to know about these three missing people are requested to contact the police.