Online scams: Man cheated after investing 2.60 crores at a friend's online trading firm

A special task force under Police Superintendent Arularasu had been set to capture Jagadeesh was in hiding.


Coimbatore: Jagadeesh (37) hails from Palani, Dindigul district. He worked as a private company in Saravanampatti in the year 2015.

SivaKumar also worked at the same firm who was from Sarkar Samakulam, Coimbatore. Over a period of time, Sivakumar became very close friends with Jagadeesh.

Jagadeesh said to Sivakumar that he runs an online trading company and convinced Sivakumar to invest money in his firm assuring good returns.

Believing Jagadeesh, Sivakumar, is said to have invested about 2,60,50,000 rupees in the firm. Jagadeesh is said to have cheated 50 lakhs from a man named Nagendram. It is believed that Jagadeesh has cheated people from Chennai, Madurai, Thiruthani and various other districts.

Coimbatore District Crime Branch Police officials have filed a case against Jagadeesh with the complaint filed by Sivakumar.

A special task force under Police Superintendent Arularasu had been set to capture Jagadeesh was in hiding.

Police officials recently received a tip that Jagadeesh was hiding in Nagercoil.

Post that the police authorities have arrested Jagadeesan from Nagercoil and have sent him to prison in Coimbatore.

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