Coimbatore: Kerala police raided Universal Trading Solutions headquartered in Coimbatore for defrauding 2,200 crores. In 2015, Ramesh, a native of Pappampatti, started Universal Trading Solutions, a private financial institution headquartered in Coimbatore.
Coimbatore: Kerala police raided Universal Trading Solutions headquartered in Coimbatorefor defrauding 2,200 crores. In 2015, Ramesh, a native of Pappampatti, started Universal Trading Solutions, a private financial institution headquartered in Coimbatore.
He advertised that the money would double for those who invested.
Believing this, several people from Tamil Nadu, Kerala, Karnataka, Andhra Pradesh and Pondicherry invested. More than 350 victims have lodged complaints with the Coimbatore Economic Crimes Division as the company failed to repay the money initially. The case was heard in the Chennai High Court.
A panel headed by retired Chennai High Court judge Badshah, which heard the case, ordered to take steps to recover the victim's money.
Following this, the investors laid seige to the financial institution. As many from Kerala had invested, the Kerala police today raided the company's office in Peelamedu, Coimbatore.
The search lasted for more than three hours. The Kerala Police confiscated important documents and a computer hard disk form the company.
He advertised that the money would double for those who invested.
Believing this, several people from Tamil Nadu, Kerala, Karnataka, Andhra Pradesh and Pondicherry invested. More than 350 victims have lodged complaints with the Coimbatore Economic Crimes Division as the company failed to repay the money initially. The case was heard in the Chennai High Court.
A panel headed by retired Chennai High Court judge Badshah, which heard the case, ordered to take steps to recover the victim's money.
Following this, the investors laid seige to the financial institution. As many from Kerala had invested, the Kerala police today raided the company's office in Peelamedu, Coimbatore.
The search lasted for more than three hours. The Kerala Police confiscated important documents and a computer hard disk form the company.