Share trading consultant arrested in Coimbatore for swindling several crores
Coimbatore: A share trading consultant has been arrested for swindling several crores. Meridia Share Trading, an share trading firm in Peelamedu has Ravikumar, 34 as its executive director with three partners Mahadevan, Vaideeswaran and Ravikumar.
The company advertised that people investing with them would get very good returns which attracted money from a lot of people. Due to delay in repayment upon maturity, the investors demanded their money back.
One of the victims, Lenin from Ondipudur, on failing to get proper reply, complained to the Economic Crime Unit that he had been cheated of one and a half lakh rupees.
Following this, the police registered a case and arrested the company's executive director Saravanan and imprisoned him. They are also on the lookout for Mahadevan, Vaideeswaran and Ravikumar. They have allegedly swindled up to Rs 4.5 crore from the public.
The company advertised that people investing with them would get very good returns which attracted money from a lot of people. Due to delay in repayment upon maturity, the investors demanded their money back.
One of the victims, Lenin from Ondipudur, on failing to get proper reply, complained to the Economic Crime Unit that he had been cheated of one and a half lakh rupees.
Following this, the police registered a case and arrested the company's executive director Saravanan and imprisoned him. They are also on the lookout for Mahadevan, Vaideeswaran and Ravikumar. They have allegedly swindled up to Rs 4.5 crore from the public.