Online trade scam: Mother and daughter arrested for defrauding ₹65 crores
Coimbatore: Mother and daughter arrested for defrauding ₹65 crores through an online finance company. An online financial institution called Greencrest was operating in Krishnaswamy nagar, near Ramanathapuram, Coimbatore.
Manikandan from Chennai and his wife Padmavathi daughter Saranya Sanjaykumar Srinivasan Karthikeyan were partners in this company. They told customers they would get a double return in six months if they invested in their company.
Believing this many people invested in the company with the money they had saved for their daughter for marriage, the money they had saved for their child's education, the money they had invested by selling sheep and cows, and the money they had invested by selling the land. But they allegedly swindled Rs 65 crore without returning the money.
The victims were from more than 20 districts, including Coimbatore, Erode, Nilgiris and Tirupur. The victims had lodged a complaint with the Coimbatore Economic Crimes Division police about 6 months ago. Police have registered a case under Section 420 and arrested Manikandan and Sanjeev Kumar, shareholders of the finance company.
They also went in search of Manikandan's wife Padmavathi's daughter Saranya Srinivasan Karthikeyan, who was also in hiding. In this situation, the police arrested Padmavathi and Saranya in Chennai yesterdayand brought them to Coimbatore, They were produced in the Investor Welfare Court and lodged them in the Coimbatore jail. They are also looking for Srinivasan Karthikeyan, who is in hiding.
Manikandan from Chennai and his wife Padmavathi daughter Saranya Sanjaykumar Srinivasan Karthikeyan were partners in this company. They told customers they would get a double return in six months if they invested in their company.
Believing this many people invested in the company with the money they had saved for their daughter for marriage, the money they had saved for their child's education, the money they had invested by selling sheep and cows, and the money they had invested by selling the land. But they allegedly swindled Rs 65 crore without returning the money.
The victims were from more than 20 districts, including Coimbatore, Erode, Nilgiris and Tirupur. The victims had lodged a complaint with the Coimbatore Economic Crimes Division police about 6 months ago. Police have registered a case under Section 420 and arrested Manikandan and Sanjeev Kumar, shareholders of the finance company.
They also went in search of Manikandan's wife Padmavathi's daughter Saranya Srinivasan Karthikeyan, who was also in hiding. In this situation, the police arrested Padmavathi and Saranya in Chennai yesterdayand brought them to Coimbatore, They were produced in the Investor Welfare Court and lodged them in the Coimbatore jail. They are also looking for Srinivasan Karthikeyan, who is in hiding.