The Nilgiris: An Ex-Army man from the Nilgiris district has been arrested and jailed in multi-crore fraud case. He has allegedly defrauded several people in various states including Tamil Nadu and Kerala.
The Nilgiris: An Ex-Army man from the Nilgiris district has been arrested and jailed in multi-crore fraud case. He has allegedly defrauded several people in various states including Tamil Nadu and Kerala.
K Mani (44) from Coonoor in the Nilgiris district served in the army as a soldier. In 2017, he advertised calling out for investments from public to be invested in a popular cement manufacturing company.
He allegedly had promised attractive interest rates of Rs 22,500 per month for an investment of Rs. 40,000. Hearing about the offer, several people from various parts of Tamil Nadu, Kerala and other States invested in the project. However, Mani neither paid the monthly interest amount as promised nor the investment amount.
In this backdrop, Laura Vinnarasi, wife of an ex-army man from Coimbatore, complained that Mani had defrauded her of Rs 5 lakh and was refusing to return the money.
Based on her complaint, Police arrested Mani. Upon investigation, it was revealed that Mani had allegedly defrauded more than 300 people and claimed that the fraud amounted to more than Rs 20 crore.
Following the probe, the Economic Offenses Police wing produced Mani in the court on Wednesday and lodged him in Coimbatire Central Prison.
K Mani (44) from Coonoor in the Nilgiris district served in the army as a soldier. In 2017, he advertised calling out for investments from public to be invested in a popular cement manufacturing company.
He allegedly had promised attractive interest rates of Rs 22,500 per month for an investment of Rs. 40,000. Hearing about the offer, several people from various parts of Tamil Nadu, Kerala and other States invested in the project. However, Mani neither paid the monthly interest amount as promised nor the investment amount.
In this backdrop, Laura Vinnarasi, wife of an ex-army man from Coimbatore, complained that Mani had defrauded her of Rs 5 lakh and was refusing to return the money.
Based on her complaint, Police arrested Mani. Upon investigation, it was revealed that Mani had allegedly defrauded more than 300 people and claimed that the fraud amounted to more than Rs 20 crore.
Following the probe, the Economic Offenses Police wing produced Mani in the court on Wednesday and lodged him in Coimbatire Central Prison.