Coimbatore: Victims who have been cheated to the tune of several thousand crores laid siege to the office of a financial institution called Universal Trading Solution in Peelamedu.
Coimbatore: Victims who have been cheated to the tune of several thousand crores laid siege to the office of a financial institution called Universal Trading Solution in Peelamedu.
Universal Trading Solution has been operating for nearly three years, behind Fun Mall in Peelamedu. People from various states including Tamil Nadu, Kerala, Karnataka, Andhra Pradesh and Pondicherry have reportedly invested in the company. In addition to this, the company has reportedly established groups and raised several crores of rupees, on the pretext of giving back twice the money invested. Their promise was that if a person invests Rs. 1 lakh, then at the end of 10 months they will receive Rs. 2 lakhs.
Victims allege that the company has cheated over 80,000 people to the tune of more than Rs. 2,000 crores. Moreover, victims have already lodged complaints at the Economic Crime Branch. On the other hand, efforts had reportedly been made to reach out to victims and settle their amounts, based on a Court order led by retired Judge Baasha, DSP of Economic Crime Branch and others.
Meanwhile, Gowtham Ramesh, the owner of Universal Trading Solutions had once again urged investors to pay Rs. 25,000 saying that once investors pay Rs. 25,000, he would settle their original investment amount in their respective bank accounts. Believing him again, investors reportedly paid the amount he had quoted.
Thereafter, it is reported that Gowtham Ramesh deceived the investors again and finally absconded. The irate investors finally laid siege to his office this morning. Following this, the Peelamedu Police Inspector arrived at the spot and negotiated with the victims, urging victims who had not lodged a complaint to do so, since the process has been made easier for victims at the Economic Crime Branch. Following the negotiation, the victims dispersed from the spot.